Total and Sonatrach have signed an agreement to renew their partnership in the field of LNG. This agreement notably allows to extend the existing supply contracts for three additional years in order to provide 2 million tpy of Algerian LNG to the French market, primarily through an LNG terminal at Fos Cavaou. The agreement also includes the sub-charter of an LNG tanker of Total by Sonatrach.
“This agreement is part of the long history of co-operation between Total and Sonatrach. Thanks to the quality of our relationship we were able to conclude it in an extremely volatile market environment. This new contract further enhances the flexibility of Total's LNG portfolio and strengthens our position as a major partner of Sonatrach,” said Laurent Vivier, President Gas of Total.
Total in Algeria
Total has been a historic player in the energy sector in Algeria for almost 70 years. The group is active in oil and gas exploration and production (participating interests in the TFT II and Timimoun gas fields and in the oilfields of the Berkine basin), as well as in LNG through supply contracts with Sonatrach. The group is also active in the marketing of lubricants and bitumens. In addition, Total and Sonatrach have launched engineering studies for a petrochemical project in Western Algeria.
Total, second largest private global LNG player
Total is the second-largest private global LNG player, with an overall portfolio of approximately 50 million tpy by 2025 and a worldwide market share of 10%. With over 34 million t of LNG sold in 2019, the Group has solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the UAE, the US, Australia or Angola, the Group sells LNG in all markets.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25062020/total-and-sonatrach-extend-their-partnership-in-lng/
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