Totalenergies Signs Major LNG Agreement With KOGAS For 2027-37

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 9. TotalEnergies and South Korea's national natural gas company, KOGAS, have signed a Heads of Agreement (HoA) for the annual delivery of 1 million tons of liquefied natural gas (LNG) per year to South Korea over a 10-year period starting at the end of 2027, Trend reports.

Following an international tender, TotalEnergies was awarded the contract by KOGAS. Under the agreement, the volume of LNG supplied to KOGAS will increase to 3 million tons per year from 2028 onward. These additional LNG supplies will be distributed across Korean industries, businesses, and households, enhancing energy security for the country.

The LNG will be sourced from TotalEnergies' global supply portfolio, with a significant share coming from its production and offtake in the United States.

Patrick Pouyanné, Chairman and CEO of TotalEnergies, said:“We thank KOGAS for its trust in TotalEnergies' ability to supply its Asian customers with reliable and competitive LNG through our global portfolio. This agreement enables TotalEnergies to secure long-term outlets in Asia, in line with the growth of our LNG supply, particularly from the United States.”

Yeonhye Choi, President and CEO of KOGAS, added:“We are pleased to finalize this agreement with TotalEnergies, which not only enhances the economic value of our LNG portfolio but also helps diversify our sources of supply. This engagement reinforces our commitment to securing a stable LNG supply amid a rapidly changing global energy landscape. We look forward to further strengthening our relationship with TotalEnergies to support a sustainable LNG value chain.”

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