TotalEnergies boosts LNG shipments to Asia with new deals

PARIS, June 4, 2024 – TotalEnergies has expanded its LNG shipments to Asia with two new contracts, the French energy giant said on Tuesday.

The deals include a sales and purchase agreement with Indian Oil Corporation for the delivery to India of up to 800,000 tonnes per year (tpy) for 10 years starting in 2026, as well as a heads of agreement with Korea South-East Power for the delivery to South Korea of up to 500,000 tpy for five years starting in 2027.

TotalEnergies is among the largest LNG players worldwide, achieving global sales of 44 million tpy in 2023.

The company targets sales of around 50 million tpy by 2025 and aims to grow the share of natural gas in its sales mix to around 50% by 2030.

“We are delighted to have been selected by IOCL and Korea South-East Power to supply LNG to India and Korea. These contracts enable us to contribute to the energy security and transition of these countries, to which we have an enduring commitment,” the company’s senior vice-president for LNG, Gregory Joffroy, said.

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