TotalEnergies agreed to supply additional LNG to South Korea through KOGAS
TotalEnergies and Korea Gas Corp.(KOGAS), South Korea’s national natural gas company, signed a heads of agreement (HoA) for LNG supply. The deal enables TotalEnergies to secure long-term outlets in Asia and contributes to KOGAS's effort to diversify its sources of LNG supply, the companies said in a release Sept. 9.
The agreement calls for TotalEnergies to supply 1 million tonnes/year (tpy) of LNG from its global portfolio—and particularly from its US LNG production and offtake—to South Korea for 10 years, beginning at end-2027.
With the agreement, LNG supplied to KOGAS by TotalEnergies increases to 3 million tpy from 2028 onward.