French energy giant, TotalEnergies has signed a sales agreement (HoA) with China’s Sinopec for the delivery of 2 mill tonnes of LNG per year for 15 years, starting in 2028.
Thanks to this long term supply deal with one of the leading LNG players in the country, TotalEnergies has strengthened its long-term position in the Chinese market, the world’s largest LNG buyer, the company added.
This agreement comes within the strategic co-operation pact signed earlier this year between TotalEnergies and Sinopec during President Xi Jinping’s state visit to France.
“We are delighted to have been chosen by Sinopec to supply 2 mill tonnes 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 continue growing our long-term sales in Asia,” said Stéphane Michel, President Gas, Renewables & Power at TotalEnergies.
Niu Shuanwen, Senior Vice President of Sinopec Corp, added: “Sinopec and TotalEnergies are strategic partners. This HoA further strengthens the co-operation between the two companies in natural gas.
“Natural gas is an important enabler for realising 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,” he said.
