Total, Kogas Sign LNG Deal

Total has signed an agreement with South Korea’s Kogas for the purchase of 0.7 million metric tons per year of LNG from the Sabine Pass terminal in Louisiana for duration of twenty years.

The LNG will be lifted following the startup of the Sabine Pass terminal’s liquefaction train 3, which is scheduled for commissioning in 2017.

“The execution of this new long-term agreement between Total and Kogas also strengthens the ties between our two companies. It follows on from the recent acquisition by Kogas of an interest in the GLNG project in Australia and the execution of a sale and purchase agreement between Total Gas & Power and Kogas for 2 million metric tons per year of LNG,” said Philippe Sauquet, Total’s President of Gas & Power.