TotalEnergies envisions LNG sales gains

French major TotalEnergies said September 28 that it expected its total LNG sales to equal about 10% of the global LNG market demand by 2025.

TotalEnergies pledged to increase overall energy production by 30% from current levels by 2030, though its output is diversifying.

“Its sales mix will evolve to 30% oil, 50% gas, 15% electricity and 5% biomass and hydrogen by 2030,” the company said. “Petroleum product sales will decrease by at least 30% over the period 2020-30.”

Energy companies are looking to cleaner fuels as part of the so-called energy transition. Fossil fuels, however, will remain part of the energy mix while emerging technologies such as hydrogen production scale up.

TotalEnergies sees the market for LNG in particular expanding by about 5% per year for the foreseeable future. To address that growing need, the French company said it expected its LNG sales to reach 50 metric tons/year by 2025, equivalent to about 10% of the world market.

Total upstream production will be driven in large part by LNG.

“The diversification of LNG outlets will allow continued value creation from global scale and arbitrage,” the company said. “Accelerating decarbonisation of the LNG chain, with a focus on reducing methane emission, is a priority with the ambition of reducing full-chain intensity by 20% by 2030.”