BAKU, Azerbaijan, February 10. TotalEnergies' adjusted net operating income for integrated LNG in 4Q2023 reached $1.45 billion, Trend reports.
According to the company's latest financial results, this marked an 8-percent increase compared to the previous quarter ($1.34 billion). This rise is attributed to the changes in prices and production volumes.
However, the company's income from LNG in the reporting period decreased by 40 percent year-on-year ($2.4 billion in 4Q2022).
Furthermore, TotalEnergies' adjusted net operating income for integrated LNG (excluding Novatek) for the full year 2023 decreased to $6.3 billion - down by 44 percent year-on-year ($11.1 billion).
Meanwhile, the cash flow from operations, excluding working capital, (CFFO) for integrated LNG in 4Q2023 amounted to $1.76 billion - up by 7 percent quarter-to-quarter ($1.64 billion in 3Q2023). This positive trend is reflective of the shifts in prices and production volumes, the energy giant noted.
At the same time, in the reporting period, this index decreased by 34 percent, compared to 4Q2022 results ($2.68 billion).
TotalEnergies's CFFO for integrated LNG for 2023 amounted to $7.2 billion (excluding Novatek) - down by 25 percent year-on-year ($9.7 billion in 2022). As the company explains, this was primarily driven by lower LNG prices, while partially offset by the high margins achieved in 2022 on LNG cargoes delivered in 2023.