French supermajor TotalEnergies SE indicated Wednesday it would double-down on its LNG business, which CEO Patrick Pouyanné said would be a “pillar” of the company’s growth in the years ahead, along with its power generation operations.

The two businesses, which have operated within the same segment for years, have been so instrumental to the company’s balance sheet that TotalEnergies will begin reporting separate results for each starting with the 1Q2023 period. The integrated gas and power segment generated $12 billion of operating income last year, a 95% increase from 2021, while the segment’s cash flow jumped 76% over the same time to $11 billion.

A large part of those results, Pouyanné told investors Wednesday, was “a year of LNG” in 2022, when buyers in...