TotalEnergies Secures New LNG Contracts in Asia
(P&GJ) — TotalEnergies has announced the signing of two new liquefied natural gas (LNG) contracts in Asia, as part of its strategy to expand its LNG business.
These agreements include a sales and purchase agreement (SPA) with Indian Oil Corporation (IOCL) for the delivery of up to 800,000 tons per year of LNG for ten years starting in 2026, and an agreement with Korea South-East Power for the delivery of up to approximately 500,000 tons per year of LNG for five years starting in 2027.
These contracts not only bolster TotalEnergies' global LNG supply portfolio but also reinforce its presence in Asian markets. The company aims to support its customers in their decarbonization efforts and contribute to the energy security and transition of the countries involved.
“We are delighted to have been selected by IOCL and Korea South-East Power to supply LNG to India and Korea. These contracts enable us to contribute to the energy security and transition of these countries, to which we have an enduring commitment,” Gregory Joffroy, senior vice president of LNG at TotalEnergies, said.
TotalEnergies is currently the world's third-largest LNG player, with a global portfolio of 44 Mt/y in 2023. The company holds interests in liquefaction plants across various regions, offering an integrated position across the LNG value chain, including production, transportation, regasification capacity in Europe, trading, and LNG bunkering. With ambitions to increase the share of natural gas in its sales mix to close to 50% by 2030, TotalEnergies aims to reduce carbon emissions and promote the transition from coal to natural gas in collaboration with local partners.
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