TotalEnergies has signed a Heads of Agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tons of LNG per year for 7 years starting from 2027.

This agreement comes In line with TotalEnergies strategy to grow its long-term liquefied natural gas (LNG) sales in Asia.

“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 VP, LNG at TotalEnergies.

TotalEnergies is the world’s third largest LNG player with a global portfolio of 44 Mt/y in 2023. The company plans 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.