Sourcing, Arbitrage, Delivery: Gas and LNG Trading by TotalEnergies
Our teams operate across the entire gas and liquefied natural gas (LNG) value chain — from regional hubs to import terminals.
They anticipate market movements, secure supply flows, and design competitive, innovative solutions in a global environment undergoing profound transformation.
A new geography for gas: between tension and transition
Global gas flows are evolving rapidly under the combined effects of geopolitical shifts, Asian demand growth, and the rise of LNG — a key pillar in ensuring energy security while reducing emissions.
As LNG becomes a central lever of flexibility, markets are becoming increasingly complex to read. Trading plays a crucial role in securing supplies, adjusting portfolios and capturing interregional arbitrage opportunities.
What is shaping today’s gas markets:
- pronounced price differentials between hubs: the main markets — in Europe (TTF) and Asia (JKM) — are now highly correlated due to increased U.S. export volumes, yet remain largely disconnected from the American marker (Henry Hub), reflecting geopolitical tensions and domestic constraints.
- The rise of spot markets, increasing both volatility and the need for flexibility.
- Growing pressure on the carbon footprint of gas, with new European methane regulations, traceability requirements and a proliferation of carbon-neutral offerings.
- An accelerated transformation of gas use: hybridization with electricity, and the gradual integration of biomethane and hydrogen into trading portfolios.
This rapid reconfiguration creates new opportunities for gas and LNG trading — including interregional arbitrage, optimization of seasonal demand fluctuations and the structuring of flexible, low-carbon contracts.
Our positioning: mastering complexity, creating value in a fragmented world
In a rapidly changing gas market, our trading teams play a central role: moving energy where it is needed, at the right time and at the right price — with flexibility, reliability and performance.
For TotalEnergies, gas and LNG trading are built on an integrated organization, firmly grounded in operations and connected to global markets. Based in Europe, Asia, and North America, our traders operate continuously across all major hubs, arbitrate between regions, optimize physical assets and design tailor-made solutions.
What sets us apart:
- Comprehensive control over the gas and LNG value chain — from gas production and transportation to liquefaction, from purchase contracts to final delivery, including cargo scheduling, fleet management and inter-basin arbitrage.
- A global and flexible portfolio combining proprietary volumes, long-term contracts, and access to spot markets across the three main basins (Atlantic, Pacific, Middle East).
- Proprietary multi-horizon trading grounded in fundamental analysis, market signal interpretation and a strong risk culture.
- Recognized expertise on European hubs — TTF (Netherlands), PEG (France), NBP (United Kingdom) — supported by the use of physical infrastructure (storage, transportation and regasification capacity).
Day after day, our teams combine anticipation, agility, and precision to capitalize on market movements, secure energy supplies and support our clients in the energy transition.
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Decarbonizing gas without compromising supply security
Natural gas remains a key lever for ensuring energy security and reducing emissions. TotalEnergies is working to make this gas cleaner, more traceable and more compatible with the climate objectives of its counterparties.
To achieve this, we are acting on several fronts:
- Offering flexible and competitive solutions tailored to each regional market (LNG, European hubs, etc.), while accounting for carbon footprint.
- Marketing low-carbon-intensity gas with enhanced traceability and offset of residual emissions.
- Integrating biomethane into our portfolios — a renewable gas produced locally from organic waste and already traded on several markets.
- Participating in the LNG bunkering market
These efforts are part of a broader ambition: to evolve our gas offerings toward a low-carbon model, without compromising reliability, competitiveness, or our clients’ supply needs.
Acting at the heart of global flows, between tension and opportunity
Gas and LNG traders track price movements across continents, anticipate regional demand, adjust positions, schedule deliveries, and navigate weather events, logistical constraints and regulatory changes. Constant vigilance is essential.
At the center of this complex value chain, our teams connect physical flows with market dynamics — balancing long-term contract stability with spot market responsiveness, and economic performance with climate objectives.
It is a demanding, fast-paced, and international profession — where every arbitrage matters and people remain at the core.
Careers connected to gas markets
Gas and LNG trading draws on a wide range of skills — from market analysis and negotiation to contract structuring, logistics, and risk management.
All of these complementary areas of expertise are essential to ensure that gas flows where it is needed, at the right time and under the best possible conditions.
Examples of key roles within this value chain: