(Energy Analytics Institute, 18.Sep.2024) — In line with its strategy to grow its long-term liquefied natural gas (LNG) sales, TotalEnergies signed a Heads of Agreement (HoA) with BOTAŞ for the delivery of 1.1 million tons per annum (mtpa) of LNG for ten years starting from 2027.
This agreement allows TotalEnergies to strengthen a long-term presence in the Turkish LNG market, TotalEnergies said 18 Sep. 2024 in an official statement.
Natural gas plays a crucial role as a transition energy, addressing the intermittency of renewable energy sources and reducing emissions by replacing coal in electricity generation, the French company said.
“This agreement enables us to secure long-term sales and reduce our exposure to spot market gas price fluctuations,” said Gregory Joffroy, Senior Vice President, LNG at TotalEnergies.
TotalEnergies, the world’s third largest LNG player
TotalEnergies is the world’s third largest LNG player with a global portfolio of 44 mtpa in 2023 thanks to its interests in liquefaction plants in all geographies. TotalEnergies benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 Mt/y of regasification capacity in Europe, trading, and LNG bunkering. TotalEnergies’ ambition is to increase the share of natural gas in its sales mix to close to 50% by 2030, to reduce carbon emissions and eliminate methane emissions associated with the gas value chain, and to work with local partners to promote the transition from coal to natural gas.
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