TotalEnergies Reached Long Term Natural Gas Supply Deal with China

SEATTLE (Oil Monster):  TotalEnergies SE, a French multinational integrated energy and petroleum corporation, stated that it has signed an extended agreement for the delivery of liquefied natural gas (LNG) to China. The agreement states that the country will receive a total of 1.25 million tons of LNG until 2034. This is consistent with the company's desire to expand its global LNG sales portfolio.

According to the corporation, the partnership will help it establish a long-term foothold in China's developing LNG industry. Gregory Joffroy, Senior Vice President of LNG at TotalEnergies, said the partnership will help the company ensure sales in the Asian region while minimizing dependency on spot market gas pricing.

The corporation has issued a request for supply of green hydrogen, which will be used to decarbonize its European refineries.

TotalEnergies SE recently signed a ten-year heads of agreement (HoA) with BOTAS, Turkey's state-owned crude oil and natural gas pipelines and trading firm, to supply 1.1 million tons of LNG per year beginning in 2027. The move is part of the company's efforts to increase its long-term foothold in the Turkish LNG market, and it has also applied for three carbon dioxide storage areas on the Norwegian Continental Shelf.

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