China: TotalEnergies to Supply 900,000 Tons of LNG per Year to Jiangsu Guoxin Group for 15 Years

TotalEnergies agreed to supply 900,000 tonnes of LNG annually to Jiangsu Guoxin Group for 15 years, starting 2028. The deal aims to boost TotalEnergies' presence in China's gas market and secure supply for Jiangsu Guoxin. Jiangsu is China's second-largest gas-consuming province, according to TotalEnergies.

TotalEnergies has secured two drilling rigs from Noble Corporation for $753 million, with potential additional earnings of $297 million. The rigs will support the $10.5 billion GranMorgu oil project in Suriname, aiming for 220,000 barrels per day by 2028. Contracts begin in December 2026, with drilling starting in early 2027.

TotalEnergies SE secured a 15-year contract to supply 900,000 metric tons of LNG annually to Jiangsu Guoxin Group, starting 2028. The deal expands TotalEnergies' LNG portfolio in China, a major LNG importer. TotalEnergies also aims to increase gas in its sales mix to 50% by 2030 and grow managed LNG volumes by 50% between 2025 and 2030.

TotalEnergies agreed to acquire a 30% stake in Malaysia's Lang Lebah and B14 offshore gas fields, which hold over 6.5 trillion cubic feet of gas resources. The deal aims to supply the Malaysia LNG liquefaction plant, according to the company.

TotalEnergies (TTE) signed two LNG supply deals: a 15-year agreement with China’s Jiangsu Guoxin Group for 900,000 tonnes annually from 2028, and a 5-year deal with ADNOC Gas for up to 1.6 million tonnes starting in 2026. Financial terms were not disclosed. Freedom Broker upgraded TTE from Sell to Hold. TTE and Angola’s SONANGOL also agreed to collaborate on reducing methane emissions and improving energy efficiency.

TotalEnergies (TTE) signed a 15-year agreement with Jiangsu Guoxin Group to supply 900,000 tons of LNG annually starting in 2028. The deal supports Jiangsu's energy needs and expands TotalEnergies' LNG portfolio in China, a key market for the company.