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Total and CNOOC reinforce LNG partnership
March 26, 2014 + + + Total announces the signing of an LNG
Cooperation Agreement between Total and China National Offshore Oil
Corporation.Total announces the signature of an LNG Cooperation Agreement
strengthening the partnership between Total and China National Offshore
Oil Corporation (CNOOC).
Under the terms of an existing 15 year
contract, Total has been supplying China with up to 1 million tons per
year of LNG since 2010. In addition to agreeing on a price review
regarding this existing supply, the parties have set a framework for an
additional supply of 1 million tons per year of LNG as well as further
cooperation throughout the LNG value chain.
Total already supplies
more than 8% of the Chinese market, with 5 million tons of LNG already
delivered between 2010 and 2014. In the coming years the Group will
benefit from additional supply sources in Australia, Russia and the US,
complementing existing Middle East and African sources, in order to
respond to China’s growing LNG demand.
“As a world leader in LNG,
Total seeks to strengthen its position in Asia’s growing LNG markets,
where China is among the largest players with 20% annual growth. This new
agreement allows us to expand our LNG supply and reinforces our
cooperation with Chinese companies”, outlined Yves-Louis Darricarrère,
President Total Upstream.
CNOOC is a pioneer of China’s LNG
industry and the third largest LNG importer in the world with 13 million
tons of LNG imported in 2013. Currently, CNOOC operates 6 LNG receiving
terminals in Guangdong, Fujian, Zhejiang, Shanghai and Tianjin with
further terminals under construction.
Source: TOTAL,
www.total.com
presse@total.com
+ + +
Total, a world leader in LNG
Total is a world leader in
LNG, with strong and diversified positions along the entire value chain
and 12,3 million tons of LNG produced in 2013. Total is active in most of
the major LNG producing regions as well as in the main LNG markets and
continues to develop LNG as a key component of its growth strategy. The
Group is involved in LNG projects in Indonesia, Qatar, the United Arab
Emirates, Oman, Nigeria, Norway, Russia, Yemen, Angola and Australia. The
Group has also secured the purchase of LNG from the Sabine Pass gas
terminal in the US and long-term access to re-gasification capacities
located in key LNG markets. Total combines production, trading, marketing
and logistics to supply gas and LNG directly to its customers worldwide
while retaining flexibility to seize market opportunities.
Foto
Total-03-31
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