Total plans more reloads to manage portfolio

摘要

Total is planning more European LNG reloads to help manage the portfolio it has inherited from French energy firm Engie, chief executive Patrick Pouyanne says. The firm's LNG portfolio is "a little bit long" following the integration of Engie's business, Pouyanne says. Total will manage its portfolio more actively, with LNG reloads "very helpful" to this aim. Re-exporting LNG from Europe to Asia offers potential profits of $3-4/mn Btu at present, Pouyanne says. This probably assumes sunk shipping costs, as including spot charter rates would result in lower profits given prevailing prices. Total has been active in the reload market in recent months, market participants say.