TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has recently entered into a sale and purchase agreement (SPA) with Sembcorp Fuels, a subsidiary of Singapore’s Sembcorp Industries. Under this agreement, up to 0.8 million tons of liquefied natural gas (LNG) per annum (Mtpa) will be delivered for a sixteen-year period starting in 2027. The LNG will be drawn from TotalEnergies’ global portfolio, supplementing the current SPA between the two companies that extends until 2029.
Contribution to Singapore’s Energy Security and Decarbonization Goals
By providing this additional LNG supply to Singapore, TotalEnergies is playing a pivotal role in enhancing the country’s energy security and supporting its decarbonization objectives. This partnership underscores TotalEnergies’ dedication to assisting its customers in their sustainability journey.
TotalEnergies: A Major Player in LNG
TotalEnergies stands as the world’s third-largest LNG player, holding a market share of approximately 12% and maintaining a global portfolio of around 50 Mt/y through its investments in liquefaction plants worldwide. The company’s comprehensive presence across the LNG value chain, encompassing production, transportation, access to over 20 Mt/y of regasification capacity in Europe, trading, and LNG bunkering, positions it as a key player in the industry. TotalEnergies aims to enhance its LNG production and long-term purchases by 50% by 2030, alongside its commitment to reducing carbon emissions and eliminating methane emissions related to the gas value chain. Moreover, the company collaborates with local partners to facilitate the shift from coal to natural gas.
About TotalEnergies
TotalEnergies is a global multi-energy corporation engaged in the production and distribution of various energy sources, including oil, biofuels, natural gas, green gases, renewables, and electricity. With over 100,000 dedicated employees worldwide, the company prioritizes making energy more affordable, sustainable, reliable, and accessible to a broader audience. Operating in nearly 130 countries, TotalEnergies embeds sustainable development practices into all its endeavors to contribute to societal well-being.
TotalEnergies
Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
