Long-term LNG Sales in China: TotalEnergies Will Supply 1.25 Million Tons Per Year to CNOOC until 2034
19 Septembre 2024 - 9:12AM
Business Wire
Regulatory News:
In line with its strategy to grow its long-term liquefied
natural gas (LNG) sales, TotalEnergies (Paris:TTE) (LSE:TTE)
(NYSE:TTE) announces a 5-year extension of its sales and purchase
agreement (SPA) with CNOOC, for the delivery of 1.25 million tons
of LNG per year to China until 2034.
Thanks to this agreement, TotalEnergies strengthens its
long-term positions in the growing Chinese market. In China,
natural gas serves as a crucial transition energy, mitigating the
intermittency of renewable energy sources and reducing emissions
when used as a substitute for coal in electricity generation.
“We are pleased to strengthen our ties with CNOOC, a key partner
for the Company in the world’s largest LNG importing country. This
agreement allows us to continue securing long-term sales in Asia
and reduce our exposure to spot market gas prices,” 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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that are based on a number of economic data and assumptions made in
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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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