TotalEnergies has signed a sales agreement with China’s Sinopec for the transport of 2 million tonnes of liquefied natural fuel (LNG) in line with year for 15 years, starting in 2028.
With the important agreement with one of the main LNG players in the country, TotalEnergies has strengthened its lengthy-term role within the LNG market in China, the most largest marketplace in the world.
The deal comes within the strategic cooperation agreement signed in advance this year between TotalEnergies and Sinopec during President Xi Jinping’s state to visit France.
In China, natural gas is a key aspect of the energy transition because it mitigates the intermittency of rapidly developing renewable energies and facilitates lessen greenhouse fuel emissions when it replaces coal in electricity production.
“We are extremely joyful to have been chosen through Sinopec to supply 2 million tons of LNG to China, the largest LNG importing country in the world. This new agreement demonstrates the competitiveness of TotalEnergies’ LNG business and allows us to keep developing our long-term sales in Asia,” said Stéphane Michel, President Gas, Renewables & Power at TotalEnergies.
“Natural gasoline is an important enabler for realizing energy transition and dual carbon goals. Sinopec is committed to constructing the world’s leading clean energy and chemical enterprise and will continue to promote energy transition and the clean, diversified and stable supply of energy,” brought Niu Shuanwen, Senior Vice President of Sinopec Corporation.
