The global LNG market is likely to remain "tight" until 2026, according to TotalEnergies.
"There are not many new plants being put onstream so it's tight," chief executive Patrick Pouyanne said at the CERAWeek by S&P Global conference in Houston, Texas, on Monday. "After that — 2027, 2028, 2029 — there are many plants coming on stream, so it could be good for the buyers."
Earlier on Monday, TotalEnergies announced a deal to acquire the carbon-capture unit of Talos Energy for $148m, comprising three carbon capture and sequestration (CCS) projects being developed in the US Gulf coast: Bayou Bend, Harvest Bend and Coastal Bend. The company is also beefing up its US upstream holdings.
"We are going to integrate our LNG position with more upstream-gas production," with a position in south Texas' Eagle Ford, the chief executive said.
As one of the top LNG producers, the company was keen to take advantage of the "cheapest gas on the planet," he said.
