Total signs new agreement to supply LNG in China
Xinhua, February 4, 2016 Adjust font size:
The global energy giant Total announced Thursday that it has signed a new binding agreement with a subsidiary of ENN Energy Holdings Ltd, one of the largest Chinese gas distributors, to supply liquefied natural gas (LNG) for the delivery of half a million tons per year for 10 years in China.
Total said the deliveries would be sourced from its global LNG portfolio and were expected to begin in 2018 upon completion of ENN's Zhoushan LNG receiving terminal.
"Total is the first major firm to sign a binding LNG supply agreement with ENN," commented Laurent Vivier, president of Gas at Total, adding that "building partnerships with new LNG buyers such as ENN in China allows us to grow our presence in this key LNG market."
Total in 2011 signed a master agreement with ChinaOil, PetroChina's trading arm, to deliver spot LNG as needed to the Rudong and Dalian terminals, which began commercial operations in Jiangsu and Liaoning provinces respectively that same year.
Total has also signed a 15-year sale and purchase agreement for up to 1 million tons a year of LNG with China National Offshore Oil Corporation, a major Chinese oil company. The accord came into force in 2010. Enditem