TotalEnergies reported net income of $23.2bn in 2023, a 36% drop on 2022.
But like fellow energy majors, it described its integrated LNG sales as ‘robust’, generating net income of $6.2bn, and recording 7% growth from the third to fourth quarter and 9% growth in the year.
CEO and Chairman Patrick Pouyanné said it delivered strong results “in an uncertain environment”. Integrated LNG generated $7.3bn in cashflow for the full year, which was lower than the “exceptional” results of 2022 but higher than 2021 on account of portfolio growth. LNG sales totalled 44 Mt last year and this year it is targeting 40 Mt.
Pouyanné said it has seen higher prices and lower growth but the market has continued to grow at 6% on average between 2015-2023.
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