China: TotalEnergies will Supply 2 Million Tons of LNG per Year to Sinopec for 15 Years
TotalEnergies announces a major 15-year LNG supply agreement with Sinopec, starting in 2028. The deal involves delivering 2 million tons of LNG annually to China, the world's largest LNG importing market. This agreement strengthens TotalEnergies' position in China's LNG market and follows a strategic cooperation agreement signed during President Xi Jinping's visit to France. TotalEnergies, currently the world's third-largest LNG player with a global portfolio of 44 Mt/y in 2023, aims to increase natural gas share in its sales mix to nearly 50% by 2030.
TotalEnergies annuncia un importante accordo di fornitura di LNG di 15 anni con Sinopec, a partire dal 2028. L'accordo prevede la consegna di 2 milioni di tonnellate di LNG all'anno in Cina, il mercato di importazione di LNG più grande al mondo. Questo accordo rafforza la posizione di TotalEnergies nel mercato cinese del LNG e segue un accordo di cooperazione strategica firmato durante la visita del Presidente Xi Jinping in Francia. TotalEnergies, attualmente il terzo maggiore operatore di LNG al mondo con un portafoglio globale di 44 Mt/y nel 2023, punta ad aumentare la quota di gas naturale nel suo mix di vendite a quasi il 50% entro il 2030.
TotalEnergies anuncia un importante acuerdo de suministro de GNL de 15 años con Sinopec, que comenzará en 2028. El acuerdo implica la entrega de 2 millones de toneladas de GNL anualmente a China, el mercado de importación de GNL más grande del mundo. Este acuerdo refuerza la posición de TotalEnergies en el mercado de GNL en China y sigue a un acuerdo de cooperación estratégica firmado durante la visita del Presidente Xi Jinping a Francia. TotalEnergies, actualmente el tercer mayor actor de GNL del mundo con un portafolio global de 44 Mt/año en 2023, tiene como objetivo aumentar la participación del gas natural en su mezcla de ventas a casi el 50% para 2030.
TotalEnergies는 Sinopec와 15년 LNG 공급 계약을 체결했다고 발표했으며, 이는 2028년부터 시작됩니다. 이 계약은 중국에 매년 200만 톤의 LNG를 공급하는 것을 포함하며, 중국은 세계에서 가장 큰 LNG 수입 시장입니다. 이 계약은 TotalEnergies의 중국 LNG 시장에서의 입지를 강화하며, 시진핑 주석의 프랑스 방문 중 체결된 전략적 협력 협정에 이어지는 것입니다. TotalEnergies는 현재 2023년도에 전 세계에서 세 번째로 큰 LNG 플레이어로 44 Mt/y의 글로벌 포트폴리오를 보유하고 있으며, 2030년까지 판매 믹스에서 자연가스 비율을 거의 50%로 늘릴 계획입니다.
TotalEnergies annonce un important accord de fourniture de GNL de 15 ans avec Sinopec, commençant en 2028. Cet accord implique la livraison de 2 millions de tonnes de GNL chaque année en Chine, le plus grand marché d'importation de GNL au monde. Cet accord renforce la position de TotalEnergies sur le marché chinois du GNL et fait suite à un accord de coopération stratégique signé lors de la visite du Président Xi Jinping en France. TotalEnergies, actuellement le troisième acteur mondial du GNL avec un portefeuille mondial de 44 Mt/an en 2023, vise à augmenter la part du gaz naturel dans son mix de ventes à près de 50 % d'ici 2030.
TotalEnergies kündigt einen wichtigen 15-jährigen LNG-Liefervertrag mit Sinopec an, der 2028 beginnt. Der Vertrag sieht die Lieferung von jährlich 2 Millionen Tonnen LNG nach China vor, dem größten LNG-Importmarkt der Welt. Dieses Abkommen stärkt die Position von TotalEnergies auf dem chinesischen LNG-Markt und folgt einem strategischen Kooperationsabkommen, das während des Besuchs von Präsident Xi Jinping in Frankreich unterzeichnet wurde. TotalEnergies, der derzeit drittgrößte LNG-Anbieter der Welt mit einem globalen Portfolio von 44 Mt/Jahr im Jahr 2023, plant, den Anteil von Erdgas in seiner Verkaufsstruktur bis 2030 auf nahezu 50% zu erhöhen.
- Secured long-term revenue stream through 15-year LNG supply agreement
- Strengthened market position in China, the world's largest LNG importing market
- Agreement aligns with company's goal to increase natural gas sales to 50% by 2030
- Delivery doesn't start until 2028, indicating delayed revenue impact
- High dependency on single market (China) for significant LNG volume
Insights
This landmark LNG supply agreement marks a significant strategic expansion for TotalEnergies in the world's largest LNG market. The 15-year commitment to supply
The timing aligns with China's aggressive energy transition goals, where natural gas plays a pivotal role in reducing coal dependency. This agreement secures a significant market share in China's growing LNG demand, supporting TotalEnergies' strategy to increase natural gas sales to
This agreement represents a significant step in China's energy transition strategy. Natural gas serves as a important bridge fuel, offering
The 15-year duration signals long-term confidence in natural gas's role in balancing renewable energy intermittency while supporting emissions reduction targets. TotalEnergies' commitment to eliminating methane emissions across the gas value chain adds environmental credibility to the partnership, potentially setting industry standards for responsible gas supply.
As part of its strategy to grow its Liquefied Natural Gas (LNG) business, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces today the signing of a sales agreement (HoA) with Sinopec for the delivery of 2 million tons of LNG per year for 15 years, starting in 2028.
Thanks to this major agreement with one of the leading LNG players in the country, TotalEnergies strengthens its long-term position in the LNG market in
“We are delighted to have been chosen by Sinopec to supply 2 million tons of LNG to
Mr. Niu Shuanwen, Senior Vice President of Sinopec Corporation, said “Sinopec and TotalEnergies are strategic partners. This HoA further strengthens the cooperation between the two companies in natural gas. Natural gas is an important enabler for realizing energy transition and dual carbon goals. Sinopec is committed to building the world's leading clean energy and chemical company and will continue to promote energy transition and the clean, diversified and secure supply of energy. Sinopec strives to make positive contributions to global energy governance and climate change.”
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TotalEnergies, the world’s third largest LNG player
TotalEnergies is the world’s third largest LNG player with a global portfolio of 44 Mt/y in 2023 thanks to its interests in liquefaction plants in all geographies. The Company benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 Mt/y of regasification capacity in
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
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FAQ
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