TotalEnergies pens LNG deals with Indian Oil, Korea South-East Power

France’s TotalEnergies announced on June 4 that it had signed LNG contracts with India’s Indian Oil Corporation and Korea’s Korea South-East Power.

The company entered into a sales and purchase agreement (SPA) with Indian Oil for the delivery of up to 800,000 tonnes/year of LNG for 10 years starting from 2026. Additionally, TotalEnergies signed a heads of agreement with Korea South-East Power for the delivery of up to 500,000 tonnes/year of LNG to South Korea for five years starting from 2027.

TotalEnergies stated that these deals help secure medium-term outlets for its global LNG supply portfolio and strengthen its footprint in Asian markets.

The French company aims to increase the share of natural gas in its sales mix to nearly 50% by 2030 to reduce carbon emissions and eliminate methane emissions associated with the gas value chain.