QatarEnergy and TotalEnergies Sign a 27-year LNG Supply Agreement for Up to 3.5 Mtpa to France

Source Company Press Release
Company QatarEnergy, TotalEnergies SE
Tags Country: France, Qatar, Other: Oil & Gas Trading, Segment: LNG
Date October 11, 2023

Affiliates of QatarEnergy and TotalEnergies signed two long-term LNG sale and purchase agreements (SPAs) for the supply of up to 3.5 million tons per annum (MTPA) of LNG from Qatar to France.

Pursuant to the SPAs, LNG will be delivered ex-ship to the Fos Cavaou LNG receiving terminal in southern France, with deliveries expected to start in 2026 for a term of 27 years.

The LNG volumes will be sourced from the two joint ventures between QatarEnergy and TotalEnergies that hold interests in Qatar’s North Field East (NFE) and North field South (NFS) projects.

The SPAs were signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, and Mr. Patrick Pouyanné, the Chairman and CEO of TotalEnergies, at a special event held in Doha in the presence of senior executives from both companies.

Commenting on this occasion, His Excellency Minister Al-Kaabi said: “These two new agreements we have signed with our partner TotalEnergies, demonstrate our continued commitment to the European markets in general, and to the French market in particular, thus contributing to France’s energy security. The State of Qatar has been supplying the French market with LNG since 2009, and the new agreements reflect the joint effort of two trusted partners, QatarEnergy and TotalEnergies, to provide reliable and credible LNG supply solutions to customers across the globe.”

His Excellency Minister Al-Kaabi added: “Our commitment to ensure continued and reliable supplies of energy to Europe and the rest of the world is underpinned by our substantial and ongoing investments across the entire gas value chain. We are proud that our new LNG expansion in Qatar is the least carbon intensive project in the world. Our efforts span from bolstering production capacity in Qatar to the development of the Golden Pass LNG export project in the United States, in addition to our commitments in various LNG receiving terminals in Europe, including the Montoir-de-Bretagne LNG Terminal in France.”

TotalEnergies’ partnership in the North Field LNG Expansion Projects is made up of a 6.25% share in the NFE project and a 9.375% share in the NFS project.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd