TotalEnergies executive: LNG buyers prioritize supply security over price.

By Mohi Narayan

GOA, India - 28th January

An executive from French oil giant TotalEnergies told the India Energy Week Conference on Wednesday that global?instability?is pushing buyers of liquefied natural gas to prioritize energy security?over other considerations such as price.

Ronan Bescond is Total's Vice President of Long-Term Marketing and Origination for gas and Power.

He said that buyers are more likely to sign agreements with companies such as TotalEnergies who have access to global LNG portfolios they can use to redirect cargoes if necessary in order to avoid local blocks. Bescond stated that "we are moving from crisis to crisis in the industry and the world: the Ukraine invasion, the COVID, and the Panama drought, which prevented certain sized'ships' from transiting the canal. Customers see portfolio players as someone who will deliver the molecule regardless of the circumstances." Reporting by Mohi Nairayan in Goa and writing by America Hernandez from Paris. (Editing by David Goodman, Louise Heavens and Louise Goodman)

(source: Reuters)