Total Guanghui signs long-term LNG purchase and sales agreement

Source: China Chemical Industry News April 18, 2019

Xinhua News (Reporter Sun Shubo) On April 3, Total and Guanghui International Natural Gas Trading Co., Ltd. signed a 10-year long-term purchase and sale agreement for liquefied natural gas (LNG). According to the agreement, Total will supply 700,000 tons of LNG to Guanghui every year. The liquefied natural gas will be shipped to Guanghui’s LNG receiving station in Qidong, Jiangsu.

\"We are very pleased to be able to establish a long-term cooperative relationship with Guanghui. Guanghui has a clear development goal and strong development momentum in China’s LNG market. This new supply contract will expand Total’s presence in China’s LNG market. The influence is fully in line with the Group’s development strategy. In 2018, China’s LNG market increased by more than 41%, and it will continue to be a key driving force for the development of the LNG market in the future.\" said Laurent Vivier, senior vice president of Total’s natural gas business.

Total is the second largest private LNG operator in the world. By 2020, the company's LNG operating capacity will reach 40 million tons per year, accounting for 10% of the global market share. In 2018, the Total Group supplied 21.8 million tons of liquefied natural gas, with solid and diverse resources throughout the liquefied natural gas value chain. Through the layout of liquefied gas plants in Qatar, Nigeria and Russia, Total sells liquefied natural gas in markets around the world. Guanghui International Natural Gas Trading Co., Ltd. is a subsidiary of Guanghui Energy Co., Ltd. Guanghui Energy Co., Ltd. is a comprehensive energy company with its headquarters in Xinjiang, China.