UPDATE 1-Total warns against renegotiation of natgas deals

(Adds quote, detail)

BUENOS AIRES Oct 8 (Reuters) - The chief executive of French oil major Total SA (TOTF.PA) warned on Thursday that attempts to renegotiate long-term natural gas supply contracts while prices are low will hurt investment.

The wide divergence between crude oil and natural gas prices has prompted calls from some consumers in countries where long-term gas supply contracts are linked to oil to push for new pricing terms.

"When you are buying you get the benefit of the long-term (supply)," said Christophe de Margerie. "It is a long-term industry, we need to finance and invest billions and billions of dollars. I don't think it is appropriate today to try and get the benefit of something which has been long negotiated."

De Margerie said global gas supplies would likely remain in surplus until approximately 2013 but that in the long term significant investments were needed to meet future demand. (Reporting by Robert Campbell and Edward McAllister; Editing by John Picinich)