TotalEnergies Increases LNG Deliveries to Asia with Two New Medium and Long-Term Contracts
04 Juin 2024 - 8:31AM
Business Wire
Regulatory News:
In line with its strategy to grow its liquefied natural gas
(LNG) business, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE)
announces the signing of two new LNG medium- and long-term
contracts in Asia:
- a sales and purchase agreement (SPA) with Indian Oil
Corporation (IOCL) for the delivery to India of up to 800,000
tons per year of LNG for ten years from 2026; and
- an agreement (HoA) with Korea South-East Power for the
delivery to South Korea of up to around 500,000 tons per year of
LNG for five years from 2027.
These agreements allow TotalEnergies to secure medium-term
outlets for its global LNG supply portfolio. They also strengthen
the Company's footprint in Asian markets, where it is particularly
committed to supporting its customers with their decarbonization
strategies.
“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,” said
Gregory Joffroy, Senior Vice President, LNG at
TotalEnergies.
***
TotalEnergies, the world’s third largest LNG player
TotalEnergies is the world’s third largest LNG player with a global
portfolio of 44 Mt/y in 2023 thanks to its interests in
liquefaction plants in all geographies. The Company benefits from
an integrated position across the LNG value chain, including
production, transportation, access to more than 20 Mt/y of
regasification capacity in Europe, trading, and LNG bunkering.
TotalEnergies’ ambition is to increase the share of natural gas in
its sales mix to close to 50% by 2030, to reduce carbon emissions
and eliminate methane emissions associated with the gas value
chain, and to work with local partners to promote the transition
from coal to natural gas.
About TotalEnergies TotalEnergies is a global integrated
energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries,
TotalEnergies places sustainability at the heart of its strategy,
its projects and its operations.
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“we”, “us” and “our” may also be used to refer to these entities or
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document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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