Total, Pertamina Sign Long-Term LNG Supply Agreements
France's Total signed long-term sale and purchase agreements to supply liquefied natural gas (LNG) to Indonesia's state-owned Pertamina, with the LNG volumes increasing from 0.4 to 1 million tons per year over a period of 15 years beginning 2020.
“These agreements allow the Group to further expand its longstanding cooperation with Pertamina and to enhance both companies’ LNG portfolios ... Strengthening our presence in Asia, in particular through innovative relationships with new LNG buyers such as Pertamina, is an important part of our strategy,” Total's President of Gas Laurent Vivier said in a press release Tuesday.
Under the agreements, Total will purchase from 2020 around 0.4 million tons per year of Pertamina’s contracted LNG volumes from Corpus Christi LNG, now under construction in the U.S. Total will, in turn, supply LNG from its global portfolio to Pertamina, with the LNG volume growing over time from 0.4 to 1 million tons annually.
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