France-based energy major Total said Thursday its average gas price realization in the second quarter fell 27% on the year and 0.9% on the quarter to $3.43/MMBtu.
Total also said in its Q2 earnings report that in January-June prices fell 32% on the year to $3.44/MMBtu.
Oil and gas production in the Europe and Central Asia region in Q2 rose 19% on the year to 770,000 b/d of oil equivalent, a fall of 2.3% from Q1.
In January-June, production in the same region increased 20% on the year to 779,000 boe/d.
This compares with a worldwide production growth of 5% on the year in Q2 to 2.424 million boe/d and of 4% in January-June to 2.452 million boe/d.
The company said it expected 4% growth in production in the whole of 2016, boosted by the likely start-up of Incahuasi field in Bolivia and the Kashagan field in Kazakhstan in the second half of the year.
So far this year, Total has expanded its power and gas portfolio with the acquisition of French battery manufacturer Saft and Belgium gas and renewable power distributor Lampiris, in a restructuring initiative centered on identifying outlets for its gas production and a new focus on renewable electricity production.
Total has said it wants renewable energy to account for 20% of its portfolio in 20 years' time.
