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TotalEnergies secures 15‑year, 900 kt LNG supply to China’s Jiangsu

Analiza

The French energy group TotalEnergies has signed a heads‑of‑agreement with Jiangsu Guoxin Group to deliver 900,000 metric tonnes of liquefied natural gas each year to the eastern Chinese province. Deliveries are scheduled to begin in 2028 and will be received at the newly built LNG terminal in Rudong. Jiangsu, ranking second in China for both GDP and natural‑gas consumption, will use the cargoes for city‑gas networks and flexible power generation. The contract adds to TotalEnergies’ expanding Asian portfolio, which already includes a 2 MMtpa deal with Sinopec and a five‑year purchase of up to 1.6 MMtpa from ADNOC Gas.

Kontekst i Tło

The agreement locks in a long‑term revenue stream for TotalEnergies while reinforcing China’s shift toward imported LNG to meet its growing energy needs. By 2030 the French company aims to raise the share of natural gas in its sales mix to about 50 %, expecting its managed LNG volumes to rise by half between 2025 and 2030. The deal also dovetails with TotalEnergies’ recent stake acquisition in the UAE’s Ruwais LNG project and a 30 % operating interest in two offshore Malaysian fields that will feed the Malaysia LNG complex. Collectively, these moves position TotalEnergies as a key supplier in the rapidly expanding global LNG market.

Komentarz Redakcji

TotalEnergies is clearly betting on LNG as the bridge fuel to a lower‑carbon future, and China’s appetite makes the gamble look profitable. If the 2028 start‑up goes smoothly, the deal could become a benchmark for other long‑term supply agreements.