TotalEnergies net income falls 30% in a quarter
Declining energy prices and weakening global markets contributed to a 30% drop in net income for TotalEnergies in the second quarter of 2025, compared with the first quarter.
Adjusted net income was down 15% to $3.6bn in the second quarter and fell 21% to $7.8bn in the first half of 2025.
Integrated LNG achieved adjusted net operating income of $1bn and cashflow of $1.2bn in the quarter, reflecting a 10% drop in the LNG selling price.
LNG highlights included signing an agreement with NextDecade for LNG offtake of 1.5Mt/yr over 20 years from the future Train 4 of Rio Grande LNG in Texas; signing agreements with Western LNG for a future equity stake and LNG offtake in Ksi Lisims LNG project in Canada; and an agreement signed this week with CMA CGM to create a joint venture for LNG bunkering in Rotterdam, with TotalEnergies providing up to 360,000 tonnes of LNG per year.
In the biogas sector, it sold its 50% stake in PGB in Poland to Norwegian investment firm HitecVision in May.
CEO Patrick Pouyanné said the results were “robust” as it maintained sustained growth in hydrocarbon and electricity production and generated $6.6bn of cashflow in the quarter.
Asked about the upcoming increase in LNG supply during a presentation, he said, “There is clearly a big increase which will come onstream between 2027 and 2029. 2026 will not be so much impacted by this new capacity. We are in a world which is quite volatile; it’s not easy for traders today to manage this geopolitical risk. Buyers continue to look at it as a way to hedge themselves.”
On whether its Mozambique LNG project would resume in Cabo Delgado province, after it was suspended following militant attacks, he said, “We are working to ensure very strong alignment between the government and investors. This is a necessity.”
He downplayed the impact of US tariffs. “In this specific case, we are comfortable; we don’t see much impact on the tariff,” he said.
In March, TotalEnergies signed an offtake agreement with German developer RWE which will supply 30,000 tonnes a year of green hydrogen to the Leuna refinery for 15 years from 2030.
This week the French energy company signed a strategic collaboration with Emerson’s Aspen Technology business to deploy advanced digital technologies for the continuous, real-time collection of data from TotalEnergies’ industrial sites. The objective is to harness the value of that data to enhance decision-making, specifically by artificial intelligence (AI), and optimise operational efficiency, energy use and environmental performance.
“We are going from words to action,” he added. “We are developing some softwares so we can extract value from the assets. We are also working on the downstream. AI is not only cutting costs but enhancing value. There will be an announcement with another company soon.”
