TotalEnergies has signed of a heads of agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tonnes of LNG per year for seven years starting from 2027.
This is in line with the French energy major’s strategy to grow its long-term LNG sales portfolio, the company said.
Thanks to this agreement, with prices indexed both to Brent and Henry Hub, TotalEnergies said it will strengthen its long-term position in South Korea, the world’s third-largest LNG importing country.
“We are pleased with this agreement with HD Hyundai Chemical, which will supply natural gas to one of their industrial sites. This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices,” said Gregory Joffroy, Senior Vice President, LNG at TotalEnergies.
