BAKU, Azerbaijan, February 9. TotalEnergies' LNG production (excluding Novatek) in 4Q2023 increased by 7 percent quarter-to-quarter and totaled 464 kboe/d, Trend reports.
According to the company, this growth was driven by reduced unplanned shutdowns.
Compared to the same period of 2022, TotalEnergies' LNG output also increased by 4 percent from 445 kboe/d.
Over the entire year of 2023, LNG hydrocarbon production (excluding Novatek) saw a 9-percent rise compared to 2022 - from 413 kboe/d to 449 kboe/d.
TotalEnergies explains that this is attributed to heightened supply to NLNG in Nigeria and increased availability of Ichthys LNG in Australia and Snøvhit in Norway.
At the same time, in 4Q2023, LNG sales experienced a 13-percent quarter-to-quarter upswing - from 10.5 million tons to 11.8 million tons. This is primarily stemming from augmented production and higher spot volumes.
However, for the entire year of 2023, LNG sales registered an 8-percent decline compared to 2022 (48.1 million tons), and amounted to 44.3 million tons, which is mainly due to reduced spot volumes resulting from decreased demand in Europe, influenced by milder winter weather and elevated inventories.
Meanwhile, TotalEnergies' adjusted net income amounted to $23.2 billion in 2023. According to the company, this marked a decrease of 36 percent year-on-year ($36.1 billion in 2022).
