TotalEnergies to Supply LNG for South Korea's Hanwha Energy
(Reuters) — TotalEnergies has signed a long-term sale contract with South Korea's Hanwha Energy Corp. for the supply of 600,000 metric tons of liquefied natural gas (LNG) per year over 15 years, the French energy group said on Tuesday.
The LNG will be sourced from TotalEnergies' global portfolio, before supplying Hanwha and HDC's greenfield 1-gigawatt power plant under construction, starting 2024.
“We are pleased to extend our long-standing cooperation with Hanwha, with whom we are already partnering on the Daesan petrochemical site, and in the United States for the development of 1.6 GW of renewables,” Stéphane Michel, president of gas, renewables and power at TotalEnergies, said. “With this new contract, TotalEnergies increases its natural gas shipments to South Korea, the world’s third largest importer of LNG in 2021. Our company is keen to support the country’s switch away from coal for power generation, with both LNG supplies and renewables projects, such as our significant “Bada” 2 GW offshore wind project.”
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