TotalEnergies Secures Long-Term LNG Sales to China

TotalEnergies has extended its sales agreement with CNOOC to supply 1.25 million tons of liquefied natural gas (LNG) per year to China until 2034. This agreement reinforces TotalEnergies' position in the expanding Chinese market, where natural gas is crucial for energy transition and emission reduction.

The extension aligns with TotalEnergies' strategy to mitigate reliance on spot market gas prices by securing long-term sales in Asia. Gregory Joffroy, Senior Vice President of LNG at TotalEnergies, emphasized the importance of the partnership with CNOOC in the world's largest LNG importing country.

As the world's third-largest LNG player, TotalEnergies boasts a global portfolio of 44 Mt/y and actively participates across the entire LNG value chain. The company aims to increase natural gas to 50% of its sales mix by 2030 to further its carbon emission reduction goals.