Total signs Pertomina LNG agreement
Total has signed long-term liquefied natural gas (LNG) sale and purchase agreements with state-owned Indonesian company Pertamina for the supply of LNG volumes increasing from 0.4 to 1 million tonnes per year over a period of 15 years beginning 2020.
“These agreements allow the Group to further expand its long standing cooperation with Pertamina and to enhance both companies’ LNG portfolios,” outlined Laurent Vivier, President Gas at Total. “Strengthening our presence in Asia, in particular through innovative relationships with new LNG buyers such as Pertamina, is an important part of our strategy.”
Under the terms of the agreements, Total will purchase from 2020 around 0.4 million tonnes per year of Pertamina’s contracted LNG volumes from Corpus Christi LNG, currently under construction in the United States. In parallel, Total will supply from its global portfolio to Pertamina a volume growing over time from 0.4 to 1 million tonnes per year of LNG.
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.
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.
Pertamina is Indonesia’s state-owned, leading integrated energy company. Its businesses include the exploration and production of oil and gas; refining, manufacturing and marketing of oil products and petrochemicals; and the development of biofuels, geothermal power and other sustainable alternative energy sources. Pertamina has operations and facilities to deliver the energy for over 250 million people spread throughout the archipelago.
Pertamina’s well known reputation in the LNG business is reflected in its long history and business partners as a major LNG supplier to overseas consumers such as Japan and Korea, as well as fulfilling domestic demand. With various and integrated natural gas infrastructure, including LNG plants, floating storage and regasification units, land-based terminals, hub and regasification terminals, and pipeline networks, Pertamina is a leading natural gas player in Indonesia.