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Total to expand LNG volumes in CNOOC supply deal by 50%

Oct. 22, 2018 10:55 AM ETTotalEnergies SE (TTE) StockCEO, TTEBy: Carl Surran, SA News Editor1 Comment
  • Total (TOT -1.3%) and China's CNOOC (CEO +1%) say they are strengthening their existing partnership in the liquefied natural gas sector to increase their production.
  • The companies say they will increase by 50% the contract volume sourced from TOT's global LNG portfolio to 1.5M metric tons/year and extend the term of contract to 20 years.
  • The initial long-term LNG sale and purchase agreement was signed in 2008, with an annual contract volume of 1M tons/year for 15 years.

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