TotalEnergies wins LNG order

TotalEnergies announces the signing of a Heads of Agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tons of LNG per year for seven years starting in 2027.

TotalEnergies said the agreement 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 intermittence of renewable energy sources and reducing emissions when it replaces coal in electricity generation, the company said. Prices for LNG will be indexed both to Brent and Henry Hub, the company said.

TotalEnergies announced an agreement to deliver LNG to HD Hyundai Chemical beginning in 2027. (Image: TotalEnergies)

“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.

Image: TotalEnergies LNG