TotalEnergies pens LNG HoA with Korea's HD Hyundai Chemical

France's TotalEnergies announced on September 24 that it had signed a Heads of Agreement (HoA) with South Korea’s HD Hyundai Chemical to supply 200,000 tonnes/year of LNG for seven years, starting in 2027.

The pricing for the deal will be indexed to both Brent and Henry Hub, reinforcing TotalEnergies' long-term presence in South Korea, the world's third-largest LNG importer, the company said.

“We are pleased with this agreement with HD Hyundai Chemical, which will supply natural gas to one of their industrial sites. 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, LNG at TotalEnergies.

This deal follows other recent agreements by the French energy giant, including a supply contract with Turkish firm Botas and an extension of its LNG supply arrangement with China’s CNOOC.