BAKU, Azerbaijan, February 26. TotalEnergies is anticipating LNG sales to exceed 40 Mt in 2024, Trend reports.
According to the company, the LNG markets are poised to remain tight, given the minimal expected capacity additions in 2024 (2 percent) and a rising demand fueled by lower LNG prices.
Considering the recent fluctuations in oil and gas prices and the time lag effect on pricing formulas, TotalEnergies foresees its average LNG selling price to stabilize around $10/Mbtu in the first quarter of 2024.
As for hydrocarbon production in the first quarter of 2024, the company is looking at a projection above 2.4 Mboe/d. Looking ahead to the full year of 2024, TotalEnergies expects a 2-percent growth in hydrocarbon production compared to 2023, excluding Canada. This growth will be supported by the launch of several additional projects, including Tyra in Denmark and Anchor in the US.
Meanwhile, TotalEnergies' LNG hydrocarbon production (excluding Novatek) saw a 9-percent rise in 2023, compared to 2022 - from 413 kboe/d to 449 kboe/d. The company's LNG production (excluding Novatek) just in 4Q2023 increased by 7 percent quarter-to-quarter and totaled 464 kboe/d.