Total has signed a binding Heads of Agreement with ENN LNG Trading for the delivery of 0.5 million tonnes per year of liquefied natural gas (LNG) for a period of 10 years.
The deliveries will be sourced from Totalâ€™s global LNG portfolio and are expected to begin in 2018 upon completion of ENNâ€™s Zhoushan LNG receiving terminal.
Â â€œTotal is the first major to sign a binding LNG supply agreement with ENN, one of the largest natural gas distributors in China,â€ commented Laurent Vivier, President Gas at Total.
â€œBuilding partnerships with new LNG buyers such as ENN in China allows us to grow our presence in this key LNG market.â€
Total is a world leader in LNG, with solid and diversified positions along the entire value chain and LNG production of 10.2 million tonnes in 2015.
Total is active in most of the major LNG producing regions as well as in the main LNG markets and continues to develop its LNG business as a key component of its growth strategy.
The Group holds interests in LNG plants in Indonesia, Nigeria, Norway, Oman, Qatar, the United Arab Emirates, Yemen, Angola, Australia and Russia.
Total has also secured the purchase of LNG from projects in the United States, and has long-term access to regasification capacity in key global LNG markets.
Â Through the expansion of its trading, marketing and logistics businesses and through the development of its LNG portfolio, Total is able to supply natural gas and LNG directly to its key customers worldwide while retaining flexibility to adapt to demand variations and to seize market opportunities.
ENN LNG Trading Company Limited is a subsidiary of ENN Energy Holdings Ltd., one of the largest natural gas distributors in China.
ENN Energy Holdings operates in 146 cities across 17 provinces and autonomous regions, with over 11 million residential and 52,000 industrial/commercial customers.
ENNâ€™s Zhoushan LNG receiving terminal is under construction and expected to be in operation by 2018.