TotalEnergies: extension of an LNG contract in China
(CercleFinance.com) - TotalEnergies has announced a five-year extension of a sales contract with CNOOC, for the delivery of 1.
25 million tons of liquefied natural gas (LNG) per year to China until 2034, thereby strengthening its long-term positions in the fast-growing Chinese market.
This agreement enables us to continue securing long-term sales in Asia, and to reduce our exposure to gas prices on the spot market, comments Gregory Joffroy, LNG Director at TotalEnergies.
According to the company, natural gas is a genuine transitional energy for China, providing a solution to the intermittent nature of renewable energies, and helping to reduce emissions when it replaces coal in power generation.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
25 million tons of liquefied natural gas (LNG) per year to China until 2034, thereby strengthening its long-term positions in the fast-growing Chinese market.
This agreement enables us to continue securing long-term sales in Asia, and to reduce our exposure to gas prices on the spot market, comments Gregory Joffroy, LNG Director at TotalEnergies.
According to the company, natural gas is a genuine transitional energy for China, providing a solution to the intermittent nature of renewable energies, and helping to reduce emissions when it replaces coal in power generation.
Copyright (c) 2024 CercleFinance.com. All rights reserved.