TotalEnergies extends LNG supply deal with China's CNOOC

French energy major TotalEnergies announced on September 19 a five-year extension of its sales and purchase agreement (SPA) with CNOOC, under which it will deliver 1.25mn tonnes of LNG per year to China until 2034.

With this agreement, TotalEnergies has reinforced its long-term presence in the growing Chinese market. “We are pleased to strengthen our ties with CNOOC, a key partner for the Company in the world’s largest LNG importing country. 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 of LNG at TotalEnergies.

The announcement follows the French firm’s recent signing of an LNG supply deal with Turkish company Botas. That 10-year agreement, signed during Gastech 2024 in Houston, involves the delivery of 1.1mn tonnes per year (or 16 LNG cargoes annually) to Turkey, starting in 2027.