TotalEnergies SE has signed two new liquefied pure gasoline (LNG) contracts in Asia, consistent with its technique of rising its LNG enterprise.
The Paris-based power main signed a gross sales and buy settlement (SPA) with Indian Oil Company (IOCL) for the supply to India of as much as 800,000 tons per yr of LNG for ten years from 2026, it mentioned in a information launch.
TotalEnergies additionally signed an settlement with Korea South-East Energy for the supply to South Korea of as much as round 500,000 tons per yr of LNG for 5 years from 2027.
The agreements enable TotalEnergies to safe medium-term shops for its world LNG provide portfolio, it mentioned. The corporate is focusing on to strengthen its footprint in Asian markets, the place it’s “significantly dedicated to supporting its prospects with their decarbonization methods,” it added.
“We’re delighted to have been chosen by IOCL and Korea South-East Energy to provide LNG to India and Korea. These contracts allow us to contribute to the power safety and transition of those international locations, to which we’ve a permanent dedication,” Gregory Joffroy, TotalEnergies Senior Vice President for LNG, mentioned.
TotalEnergies claims to be the world’s third largest LNG participant with a worldwide portfolio of 44 million metric tons per yr in 2023 as a consequence of its pursuits in liquefaction vegetation in all geographies. The corporate advantages from an built-in place throughout the LNG worth chain, together with manufacturing, transportation, entry to greater than 20 million metric tons per yr of regasification capability in Europe, buying and selling, and LNG bunkering.
TotalEnergies mentioned its ambition is to extend the share of pure gasoline in its gross sales combine to shut to 50 % by 2030, to cut back carbon emissions and get rid of methane emissions related to the gasoline worth chain, and to work with native companions to advertise the transition from coal to pure gasoline.
In 2019, the corporate made remaining funding selections in three main tasks: Arctic LNG 2 in Russia with a manufacturing capability of 19.8 million metric tons per yr); Mozambique LNG, with a manufacturing capability of 12.9 million metric tons per yr; and NLNG Practice 7 in Nigeria with a manufacturing capability of seven.6 million metric tons per yr.
Final month, a TotalEnergies three way partnership (JV) introduced a research for the implementation of a big inexperienced hydrogen undertaking named H2 Notos in Tunisia for export to Central Europe by way of pipelines. TE H2, a three way partnership between TotalEnergies and EREN Groupe, and Austria’s main electrical energy firm Verbund have inked a memorandum of understanding with the Republic of Tunisia for the research, TotalEnergies mentioned in an earlier information launch.
Aiming to supply 200,000 tons of inexperienced hydrogen yearly throughout its preliminary part, the undertaking has the potential to scale up manufacturing to at least one million tons per yr in South Tunisia. The undertaking may have entry to the European market by way of the SoutH2 Hall, a hydrogen pipeline undertaking connecting North Africa to Italy, Austria, and Germany, which is predicted to be commissioned round 2030.
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