TotalEnergies signs 10-yr LNG supply deal with India's GSPC
- Deal for 0.4 MMtpy of LNG starts in 2026
- GSPC hopes to become Indian gas trading player
- Joins six LNG deals TotalEnergies signed last year in Asia
- India's LNG imports set to double by 2030, IEA says
TotalEnergies has signed a deal to supply the Gujarat State Petroleum Corporation with 400,000 metric tpy of LNG, beginning in 2026. The deal with the Indian state-owned firm was announced on the sidelines of India Energy Week, and amounts to six LNG cargoes per year destined for mostly industrial customers.
India, currently the world's fourth-largest LNG buyer, will have to double annual imports by the end of the decade to meet rising demand from rapid urbanization and industrialization, the International Energy Agency said this week.
The Indian government has set a target for natural gas to reach 15% of the country's energy mix, up from 6.2% today.
GSPC said in a joint statement that the contract with Total aligned with its strategy to build up a long-term LNG portfolio and become a leading gas trader in India.
TotalEnergies has said the fast-growing Indian market is core to its growth strategy. It must also secure buyers to balance out the large amount of U.S. LNG it has contracted to purchase over the coming decade.
Last year Total signed a raft of long-term deals with mostly Asian buyers, including one with the Indian Oil Corp.
Related News
Related News
- ADNOC Gas awards $2.1 B in contracts to enhance LNG supply infrastructure
- U.S. Department of the Treasury releases final rules for clean hydrogen production tax credit
- Nicor Gas celebrates its first renewable natural gas interconnection
- EnviTec Biogas looks to expand biogas production into the U.S.
- AGDC and Glenfarne to develop $44-B Alaska LNG project
Comments