BAKU, Azerbaijan, April 27. TotalEnergies' LNG production in 1Q2024 saw an uptick of 6 percent quarter-to-quarter, rising from 464 to 492 kboe/d, Trend reports.
According to the company, this increase was attributed to enhanced installations availability, particularly notable on projects such as Ichthys in Australia and QatarEnergy LNG N(2) in Qatar, alongside augmented supply from NLNG in Nigeria.
However, despite the surge in production, TotalEnergies' LNG sales witnessed a contrasting trend in the first quarter of 2024, registering a decline of 9 percent quarter-to-quarter. Total sales volumes dropped from 11.8 million metric tons (mt) to 10.7 mt, primarily influenced by subdued demand in Europe.
The milder winter weather and resultant high inventories in the region contributed to this downturn, the company explained. Additionally, partial downtime at Freeport LNG in the US during the quarter further impacted sales volumes.
Meanwhile, TotalEnergies reported a hydrocarbon production of 2,461 thousand barrels of oil equivalent per day (kboe/d) in 1Q2024. The output in the reporting period decreased by 2 percent year-on-year (2,524 kboe/d in 1Q2023). In 4Q2023, the company's production totaled 2,462 kboe/d.