- TotalEnergies and KOGAS signed a Heads of Agreement for 1 million tons of LNG annually over 10 years starting end of 2027.
- The contract increases TotalEnergies' LNG supply to KOGAS to 3 million tons per year from 2028.
- LNG will be sourced from TotalEnergies' global supply, particularly U.S. production.
Agreement Details
TotalEnergies and KOGAS have signed a Heads of Agreement for the delivery of 1 million tons of LNG annually to South Korea over a 10-year period, starting from the end of 2027. This agreement was awarded to TotalEnergies by KOGAS following an international tender.
Increased Supply
From 2028 onward, the contract will increase the volume of LNG supplied by TotalEnergies to KOGAS to 3 million tons per year. KOGAS is currently the world's largest LNG importer, and these additional volumes will be delivered to Korean industries, businesses, and households.
Supply Sources
The LNG will be sourced from TotalEnergies’ global supply portfolio, with a significant portion coming from its U.S. LNG production and offtake. This agreement allows TotalEnergies to secure long-term outlets in Asia, aligning with the growth of its LNG supply, particularly from the United States.
