French energy giant Total and China’s CNOOC have signed an amendment to their existing deal for liquefied natural gas (LNG) supply.
The partners have increased the contract volume from 1 million tons per annum (Mtpa) to 1.5 Mtpa of LNG, sourced from Total’s global LNG portfolio, and have extended the term of contract to 20 years, according to a Total statement on Monday.
The initial long-term deal was signed in 2008, with an annual contract volume of 1 Mtpa for a period of 15 years.
“We are delighted to strengthen our partnership with CNOOC to expand our presence in the Chinese LNG market, which grew by 50% over the first half of 2018 and will continue to drive the increase of LNG demand over the next decade,” Philippe Sauquet , President Gas, Renewables and Power said in the statement.