France's Total reported Friday that it has signed a binding Heads of Agreement with Japan's Chugoku Electric to supply liquefied natural gas (LNG) for a period of 17 years commencing in 2019.
Under the agreement, Total will supply Chugoku Electric with up to 0.4 million tons of LNG per year, with the supply sourced from its global portfolio.
"This supply agreement with one of Japan’s major regional electric utilities is an important milestone for Total in the country where the Group has been a reliable partner in supplying LNG for almost 40 years ... Strengthening our presence in Japan, the world’s largest LNG importer, through long-term cooperation with leading LNG buyers such as Chugoku Electric is a key component of Total’s strategy. This is already the third long-term contract signed by Total this year, following agreements with Pertamina and ENN," Total President Gas Laurent Vivier said in the press release.
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