TotalEnergies Extends LNG Supply Agreement with CNOOC, Strengthening Chinese Market Position Until 2034

(IN BRIEF) TotalEnergies has extended its sales and purchase agreement with China’s CNOOC for an additional five years, committing to supply 1.25 million tons of liquefied natural gas (LNG) per year until 2034. This move enhances TotalEnergies’ long-term presence in the rapidly growing Chinese market, where natural gas is crucial for transitioning from coal to cleaner energy. The deal also helps TotalEnergies secure stable sales in Asia and reduces exposure to fluctuating spot market gas prices.

(PRESS RELEASE) PARIS, 19-Sep-2024 — /