LogIn LogOut

TotalEnergies Signs LNG Supply Deal with South Korea’s HD Hyundai Chemical

September 24, 2024

© vladsv / Adobe Stock
© vladsv / Adobe Stock

TotalEnergies has signed a Heads of Agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tons of liquefied natural gas (LNG) per year for seven years starting from 2027.

Thanks to this agreement, with prices indexed both to Brent and Henry Hub, TotalEnergies strengthens its long-term position in South Korea, the world’s third-largest LNG importing country.

In Asia, LNG serves as a true transition energy, mitigating the intermittency of renewable energy sources and reducing emissions when it replaces coal in electricity generation.

“We are pleased with this agreement with HD Hyundai Chemical, which will supply natural gas to one of their industrial sites. 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.

Current News

East Timor Eyes Chinese Partners for Stalled Greater Sunrise Gas Development

East Timor Eyes Chinese Partners for Stalled Greater Sunrise Gas Development

CNOOC Kicks Off Production from Bohai Bay Field

CNOOC Kicks Off Production from Bohai Bay Field

Eni Strengthens LNG Ties with Japan

Eni Strengthens LNG Ties with Japan

Velesto Teams Up with SLB to Enhance Drilling Rig Capabilities

Velesto Teams Up with SLB to Enhance Drilling Rig Capabilities

MCDermott Gets Pipelines and Cables Job at Qatar's Giant Gas Field

MCDermott Gets Pipelines and Cables Job at Qatar's Giant Gas Field

Nong Yao C Development Bolsters Valeura’s Production Rates Off Thailand

Nong Yao C Development Bolsters Valeura’s Production Rates Off Thailand

ABS Gives Its Blessing to SHI’s Ammonia FPSO Design

ABS Gives Its Blessing to SHI’s Ammonia FPSO Design

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Russia decreasing share of budget plan revenue from gas and oil, minister says
Zinc dealing with supply deficit as mine output falls once again: Andy Home
Gold ticks up, US inflation data in focus
https://accounts.newwavemedia.com