LNG

Aug 27 (LNGJ) - French energy major Total has signed an agreement to sell 500,000 tonnes per annum of LNG to Royal Dutch Shell over five years on a delivered basis to supply the markets of India and neighbouring countries. “The deliveries will be sourced from Total’s global LNG portfolio and are expected to begin in 2019,” said the French company. The deal is in addition to Total signing an accord with Shell for the sale of its 26 percent minority equity stake in the Hazira import terminal on the West Coast of India, near Mumbai. “This deal enables Total to capture value through an asset disposal, while the LNG sales contract allows us to maintain the balance of our LNG portfolio,” said Philippe Sauquet, Total’s President of Gas, Renewables and Power. “We remain committed to supply the Indian subcontinent, which is a key market experiencing strong growth in LNG demand.”