As geopolitical disruptions and logistical bottlenecks become more frequent, portfolio LNG players are emerging as critical stabilisers of global gas markets, according to Ronan Bescond, vice-president — long-term marketing and origination, TotalEnergies Gas & Power.
Speaking at India Energy Week 2026 on Wednesday, Bescond said that the world is moving “from one crisis to another,” citing the Ukraine war, Covid-19 disruptions and even constraints at the Panama Canal. “In this environment, security of supply has returned to the top of the agenda,” he said.
“We bring geographical diversity, integration across the value chain, and delivery assurance,” he said. TotalEnergies produces LNG from 11 liquefaction plants worldwide, allowing it to redirect cargoes and manage disruptions across regions.
“For customers, the key question is simple: Will the LNG be delivered, no matter what?” Bescond said. Portfolio players, he argued, absorb risk on behalf of buyers by offering flexibility in sourcing, pricing indices and delivery routes.
India, he noted, is already the world’s fourth-largest LNG importer, despite prices remaining above pre-Covid levels. While demand proved highly price-sensitive, falling nearly 20 per cent during the 2021-22 price spike, he said that the coming wave of supply from the US, Middle East and Mozambique should support demand recovery.
TotalEnergies sees LNG as a long-term pillar of India’s energy transition, working alongside renewables. “Gas is not competing with renewables; it is enabling them,” he said. The company has already built a strong renewable footprint in India, with 10 GW operational today, expected to grow to 18 GW by 2030. “Gas and renewables together form a resilient energy system,” said Bescond.
He also highlighted India’s growing upstream investments to secure supply, noting that BPCL, ONGC Videsh and Oil India collectively own 30 per cent of Mozambique’s gas field.
“That is a strategic investment, 5,000 kilometres away, to ensure long-term LNG availability. All the pieces of the puzzle are coming together, term supply, portfolio optimisation, infrastructure and policy support. India is building an LNG value chain that prioritises reliability, flexibility and decarbonisation,” he added.
