TotalEnergies has entered into a long-term SPA with Sembcorp Fuels for the supply of LNG.
The agreement, which will commence in 2027, involves the delivery of up to 0.8 million tonnes per annum of LNG to the subsidiary of Singapore-based Sembcorp Industries (Sembcorp) over a period of 16 years.
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TotalEnergies said the LNG will be sourced from its global portfolio.
This SPA builds upon an existing LNG purchase agreement between the two companies that was signed in 2022, and will continue until 2029.
Announcing the deal, Sembcorp said: “The SPA diversifies Sembcorp’s existing natural gas supply from piped and liquefied sources globally. As Singapore’s leading natural gas importer, Sembcorp is committed to supporting Singapore with a stable and resilient supply of energy in its transition towards a net-zero future.”
TotalEnergies claims to have a market share of approximately 12% of the global LNG market, with an LNG portfolio of around 50 million tonnes per year.
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By GlobalDataThe French oil and gas major aims to expand its LNG production and long-term purchases by 50% by the year 2030.
In line with this goal, in November 2023, the energy company signed an agreement to extend its partnership with Oman LNG, a joint venture (JV) in which TotalEnergies holds a 5.54% stake.
At the time, TotalEnergies senior vice-president of Middle East and North Africa, exploration and production, Julien Pouget said: “We are pleased to extend our partnership with Oman LNG. This LNG contributes to our supply of Europe and Asian markets, and strengthens our integrated and flexible global portfolio, in line with TotalEnergies’ ambition to increase its LNG production and long-term purchases by 50% by 2030.”
In the month prior, TotalEnergies secured LNG supply deals with government-backed QatarEnergy.
The agreements, spanning 27 years, will see LNG supplied from the JV between TotalEnergies and QatarEnergy, which have interests in the North Field East and North Field South projects in Qatar.
