TotalEnergies inks two Asian LNG supply deals

French energy giant TotalEnergies has entered into deals to supply liquefied natural gas (LNG) to Indian Oil and Korea South-East Power.

TotalEnergies said on Tuesday these contracts allow the firm to secure medium-term outlets for its global LNG supply portfolio, and they also strengthen the company’s footprint in Asian markets.

The Paris-based firm signed a sales and purchase agreement (SPA) with Indian Oil (IOCL) for the delivery to India of up to 800,000 tons per year of LNG for ten years from 2026.

TotalEnergies also signed a heads of agreement (HoA) with Korea South-East Power (KOEN) for the delivery to South Korea of up to around 500,000 tons per year of LNG for five years from 2027.

The company did not provide further details regarding the deals.

During the first quarter, TotalEnergies sold 10.7 million tonnes of LNG, down 3 percent compared to 11 million tonnes in the same period last year mainly due to lower demand in Europe.

This was also down 9 percent compared to 11.8 million tonnes in the prior quarter.

The company’s LNG sales decreased 8 percent year-on-year to 44.3 million tonnes in 2023.

TotalEnergies says it is the world’s third largest LNG player with a global portfolio of 44 million tonnes per year in 2023 thanks to its interests in liquefaction plants in all geographies.

The company benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 million tonnes per year of regasification capacity in Europe, trading, and LNG bunkering.

Most Popular

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.

NextDecade, Bechtel agree $9 billion EPC deals for two Rio Grande LNG trains

US LNG firm NextDecade and compatriot Bechtel have finalized EPC contracts worth $9.09 billion for the construction of the fourth and fifth trains and related infrastructure at the Rio Grande LNG facility in Texas.

Atlantic LNG shipping rates jump to $49,750 per day

Atlantic spot LNG shipping rates rose to $49,750 per day this week, while European prices also jumped compared to the previous week.

More News Like This

TotalEnergies expands in Malaysia with Petronas deal

French energy giant and LNG player TotalEnergies has entered into a deal with Petronas to buy stakes in multiple blocks offshore Malaysia and one block offshore Indonesia.

Argentina’s Enarsa gets offers for new LNG cargo tender

Argentina's state-owned LNG importer Energia Argentina (Enarsa) has received six offers for its third LNG cargo tender in 2025.

TotalEnergies seals Ksi Lisims LNG deal

French energy giant TotalEnergies has signed a 20-year deal with Ksi Lisims LNG to buy LNG from the latter's planned export project in Canada. In addition, TotalEnergies will acquire a 5 percent stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project.

TotalEnergies targets Mozambique LNG restart by mid-year, CEO says

France's TotalEnergies and its partners in the giant Mozambique LNG project are planning to restart construction on the 12.8 mtpa project by the middle of this year, according to Patrick Pouyanne, CEO of TotalEnergies.