TotalEnergies SE (FR:TTE) has released an update.
TotalEnergies has solidified its presence in the Chinese market with a five-year extension of its agreement to supply 1.25 million tons of LNG annually to CNOOC until 2034, reinforcing its position as the world’s third-largest LNG player. The deal aligns with the company’s goal to boost sales of natural gas, which is seen as a key transitional energy in China, helping to bridge the gap between renewable sources and the reduction of coal usage for electricity generation. TotalEnergies aims to nearly double the share of natural gas in its sales mix to 50% by 2030, as part of its broader strategy to lower carbon emissions and promote a shift from coal to natural gas.
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