Total: increasing cooperation with CNOOC in LNG
(CercleFinance.com) - Total and CNOOC have announced signing an amendment to their contract for the sale and purchase of liquefied natural gas (LNG), a modification by which they will increase the contract volumes to 1.
5 million tons p.a. (Mtpa), against one Mtpa previously.
Supply will be provided from Total's global LNG portfolio. The partners have extended the term of the contract to 20 years.
Signed in 2008, the original contract provided for the supply of one million tons of LNG per year over 15 years.
“...the Chinese LNG market, which grew by 50% over the first half of 2018 and will continue to drive the increase of LNG demand over the next decade,” said Philippe Sauquet, President Gas, Renewables and Power.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5 million tons p.a. (Mtpa), against one Mtpa previously.
Supply will be provided from Total's global LNG portfolio. The partners have extended the term of the contract to 20 years.
Signed in 2008, the original contract provided for the supply of one million tons of LNG per year over 15 years.
“...the Chinese LNG market, which grew by 50% over the first half of 2018 and will continue to drive the increase of LNG demand over the next decade,” said Philippe Sauquet, President Gas, Renewables and Power.
Copyright (c) 2018 CercleFinance.com. All rights reserved.