TotalEnergies signed an extension agreement to supply 1.25 million tons of LNG annually to China until 2034, aligning with the company’s goal to expand its LNG sales.
“We are happyh to deepen our partnership with CNOOC, a key collaborator in the world’s largest LNG-importing nation. This long-term agreement helps us secure sales in Asia while reducing reliance on spot market gas prices,” said Gregory Joffroy, Senior Vice President, LNG, TotalEnergies.
As reported by offshore-energy.biz, the company views the agreement as crucial for bolstering its long-term presence in China’s growing LNG market, where natural gas plays a pivotal role in transitioning to renewable energy by reducing emissions when used instead of coal for electricity generation.
Recently, TotalEnergies signed a ten-year heads of agreement (HoA) with Türkiye’s BOTAŞ to supply 1.1 million tons of LNG annually starting in 2027. Additionally, it applied for three CO2 storage areas on the Norwegian Continental Shelf as part of the seventh call for carbon dioxide storage licenses.
Concurrently, CNOOC initiated production at its fully-owned Liuhua 11-1/4-1 oilfield revitalization project in the eastern South China Sea, which includes the Liuhua 11-1 and Liuhua 4-1 oilfields, the Haiji-2 deepwater jacket platform, and the Haikui-1 FPSO unit.
