Total and Sonatrach have signed an settlement to resume their partnership within the area of liquefied pure fuel (LNG).
This settlement notably permits to increase the prevailing provide contracts for three extra years with the intention to present 2 million tons per yr of Algerian LNG to the French market, primarily via the LNG terminal at Fos Cavaou. The settlement additionally consists of the sub-charter of an LNG tanker of Total by Sonatrach.
“This settlement is a part of the lengthy historical past of cooperation between Total and Sonatrach. Thanks to the standard of our relationship we have been capable of conclude it in an especially unstable market setting. This new contract additional enhances the pliability of Total’s LNG portfolio and strengthens our place as a serious accomplice of Sonatrach,” stated Laurent Vivier, President Gas of Total.
Total has been a historic participant within the power sector in Algeria for nearly 70 years. The group is energetic in oil and fuel exploration and manufacturing (taking part pursuits within the TFT II and Timimoun fuel fields and within the oil fields of the Berkine basin), in addition to in liquefied pure fuel via provide contracts with Sonatrach. The group can be energetic within the advertising and marketing of lubricants and bitumens. In addition, Total and Sonatrach have launched engineering research for a petrochemical mission in Western Algeria.
Total is the second-largest personal world LNG participant, with an total portfolio of round 50 Mt/y by 2025 and a worldwide market share of 10%. With over 34 Mt of LNG bought in 2019, the Group has strong and diversified positions throughout the LNG worth chain. Through its stakes in liquefaction vegetation situated in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the United States, Australia or Angola, the Group sells LNG in all markets.
(Source: Total – Image: Skikda LNG facility/KBR)
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