In a move to expand its liquefied natural gas business, TotalEnergies has recently announced the signing of two new LNG contracts in Asia. These agreements include a sales and purchase agreement with Indian Oil Corporation and an agreement with Korea South-East Power.
Under the SPA with IOCL, TotalEnergies will deliver up to 800,000 tonnes per year of LNG to India for a period of ten years, starting in 2026. The agreement with Korea South-East Power involves the delivery of approximately 500,000 tonnes per year of LNG to South Korea for a five-year period starting in 2027.
These contracts not only provide TotalEnergies with medium-term outlets for its global LNG supply portfolio but also strengthen its presence in the Asian markets. The company is dedicated to supporting its customers in these markets with their decarbonisation strategies.
Gregory Joffroy, senior vice president of LNG at TotalEnergies, expressed his satisfaction with being selected by IOCL and Korea South-East Power as their LNG supplier. He emphasised the company’s commitment to contributing to the energy security and transition of these countries.
TotalEnergies is recognised as the world’s third largest LNG player, with a global portfolio of 44 Mt/y in 2023. The company has a comprehensive presence across the LNG value chain, encompassing production, transportation, access to regasification capacity in Europe, trading, and LNG bunkering. TotalEnergies aims to increase the share of natural gas in its sales mix to nearly 50 percent by 2030, with a focus on reducing carbon emissions and eliminating methane emissions associated with the gas value chain. Additionally, the company collaborates with local partners to facilitate the transition from coal to natural gas.
For more information visit www.totalenergies.com
