Total has signed a binding Heads of Agreement with Chugoku Electric for the direct supply of liquefied natural gas (LNG) for a period of 17 years starting from 2019. Under the agreement, Total will supply Chugoku Electric with up to 0.4 million tons of LNG per year (Mt/y) sourced from the company’s global portfolio.
This supply agreement with one of Japan’s major regional electric utilities is an important milestone for Total in the country where the Group has been a reliable partner in supplying LNG for almost 40 years, outlined Laurent Vivier, President Gas at Total.
Strengthening Total´s presence in Japan, the world’s largest LNG importer, through long-term cooperation with leading LNG buyers such as Chugoku Electric is a key component of Total’s strategy. This is already the third long-term contract signed by Total this year, following agreements with Pertamina and ENN.
Total is a global gas player, well positioned along the entire LNG value chain, with a strong track record in upstream project execution, a significant trading capability and an industry-leading reputation as a reliable LNG supplier.
In 2015 the Group’s LNG production was of 10.2 million tons. Total’s objective is to double its liquefaction capacity to around 20 Mt/y and increase its LNG trading portfolio to 15 Mt/y by 2020.
