TotalEnergies SE leveraged its globally integrated liquefied natural gas (LNG) portfolio last year to capitalize on soaring commodity prices and turn in what management said were historic financial results. 

“We went from I would say the historic bottom in terms of results last year…to record results and cash flows in 2022,” said CEO Patrick Pouyanné.

TotalEnergies’ growth strategy this decade hinges on its integrated Gas, Renewables and Power segment, which was lifted last year by global energy shortages and high commodity prices. The company’s average Brent crude prices jumped 69% to $70.90/bbl in 2021, while average LNG prices shot up 82% to $13.12/MMBtu on elevated spot and oil-indexed prices. 

The final three months of the year were among the...