QatarEnergy And TotalEnergies Set To Power France With Long-Term LNG Supply Agreement

Affiliates of QatarEnergy and TotalEnergies SE TTE have entered into two long-term LNG sale and purchase agreements, ensuring the supply of up to 3.5 million tons per annum of LNG from Qatar to France.

The LNG will be transported ex-ship to the Fos Cavaou LNG receiving terminal located in the southern part of France. The commencement of deliveries is slated for 2026 and is expected to continue for a substantial term of 27 years.

The LNG volumes are earmarked to be sourced from joint ventures that are a collaboration between QatarEnergy and TotalEnergies. These ventures are integral parts of Qatar's North Field East and North Field South projects.

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"These two new agreements we have signed with our partner TotalEnergies, demonstrate our continued commitment to the European markets in general, and to the French market in particular, thus contributing to France's energy security," remarked His Excellency Minister Al-Kaabi.

TotalEnergies holds a 6.25% share in the North Field East project and a 9.375% share in the North Field South project. This partnership underscores the company's strategic alignment with QatarEnergy.

Price Action: TTE shares are trading higher by 0.31% at $65.71 on the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.