TotalEnergies to supply 2 million tons of LNG per year to Sinopec for 15 years

TotalEnergies announced today the signing of a sales agreement (HoA) with Sinopec to deliver 2 million tons of LNG per year to Sinopec for 15 years starting in 2028.

The agreement is part of the strategic cooperation agreement signed by TotalEnergies and Sinopec earlier this year. In China, natural gas is a key component of the energy transition as it can mitigate the intermittency of rapidly growing renewable energy and help reduce greenhouse gas emissions when replacing coal-fired power generation.

Stéphane Michel, President of TotalEnergies Gas, Renewables and Power, said: "We are delighted to be selected by Sinopec to supply 2 million tons of LNG to China, the world's largest LNG importer. This new agreement demonstrates the competitiveness of TotalEnergies' LNG business and enables us to continue to achieve long-term sales growth in Asia."

Niu Shuanwen, Senior Vice President of Sinopec Group, said: "Sinopec and TotalEnergies are strategic partners of each other. The signing of this letter of intent further strengthens the cooperation between the two parties in the field of natural gas. Natural gas is an important driving force for achieving energy transformation and dual carbon goals. Sinopec is committed to building a world-leading clean energy chemical company. It will continue to promote energy transformation and clean, diversified and safe energy supply, and strive to make positive contributions to global energy governance and addressing climate change."