TotalEnergies to Deliver 2 Million Tons of LNG to Sinopec Annually for 15 Years

TotalEnergies has announced a strategic agreement with Sinopec to supply 2 million tons of liquefied natural gas (LNG) annually for 15 years, commencing in 2028. This agreement strengthens TotalEnergies' presence in China, the world's largest LNG market, and aligns with the cooperation agreement signed during President Xi Jinping's state visit to France earlier this year.

Natural gas plays a vital role in China's energy transition, helping to balance the intermittency of renewables and reduce greenhouse gas emissions. Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies, highlighted the competitiveness of TotalEnergies’ LNG business in the Asian market. Sinopec aims to advance the clean, secure supply of energy, underlining the importance of natural gas for energy goals.

TotalEnergies ranks as the third-largest global LNG player, with a 2023 portfolio of 44 Mt/year. It seeks to increase natural gas in its sales to nearly 50% by 2030, promoting a shift from coal to cleaner energy sources.