REG-TotalEnergies SE Long-term LNG Sales in China: TotalEnergies Will Supply 1.25 Million Tons Per Year to CNOOC until 2034

TotalEnergies SEAnnouncement

19/09/2024 08:15

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Long-term LNG Sales in China: TotalEnergies Will Supply 1.25 Million Tons Per
Year to CNOOC until 2034

 

In line with its strategy to grow its long-term liquefied natural gas (LNG)
sales, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces a 5-year
extension of its sales and purchase agreement (SPA) with CNOOC, for the
delivery of 1.25 million tons of LNG per year to China until 2034.

Thanks to this agreement, TotalEnergies strengthens its long-term positions in
the growing Chinese market. In China, natural gas serves as a crucial
transition energy, mitigating the intermittency of renewable energy sources
and reducing emissions when used as a substitute for coal in electricity
generation.

“We are pleased to strengthen our ties with CNOOC, a key partner for the
Company in the world’s largest LNG importing country. This agreement allows
us to continue securing long-term sales in Asia and reduce our exposure to
spot market gas prices,” said Gregory Joffroy, Senior Vice President, LNG at
TotalEnergies.

***

TotalEnergies, the world’s third largest LNG player

TotalEnergies is the world’s third largest LNG player with a global
portfolio of 44 Mt/y 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
Mt/y of regasification capacity in Europe, trading, and LNG bunkering.
TotalEnergies’ ambition is to increase the share of natural gas in its sales
mix to close to 50% by 2030, to reduce carbon emissions and eliminate methane
emissions associated with the gas value chain, and to work with local partners
to promote the transition from coal to natural gas.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

TotalEnergies Contacts

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

@TotalEnergies
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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).



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