TotalEnergies Secures 7-Year LNG Deal With HD Hyundai Chemical: Expanding Reach In Asia's Energy Market

TotalEnergies SE TTE shares are trading higher premarket Tuesday. The company inked a Heads of Agreement (HoA) with HD Hyundai Chemical to deliver 200,000 tons of liquefied natural gas (LNG) per year for seven years starting in 2027.

This agreement aligns with TotalEnergies’ strategy to expand its long-term LNG sales and reinforces its position in South Korea, the third-largest LNG importer globally.

The pricing under the deal will be indexed to both Brent crude oil and the Henry Hub natural gas benchmark.

Gregory Joffroy, Senior Vice President, LNG at TotalEnergies, said, “We are pleased with this agreement with HD Hyundai Chemical, which will supply natural gas to one of their industrial sites. This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices.”

Yesterday, TotalEnergies signed a 10-year agreement to supply Air France-KLM with 1.5 million tons of sustainable aviation fuel (SAF) through 2035.

Last week, TotalEnergies extended its sales and purchase agreement (SPA) with CNOOC by an additional five years.

Investors can gain exposure to the stock via Advisor Managed Portfolios Miller Value Partners Appreciation ETF MVPA and Octane All-Cap Value Energy ETF OCTA.

Price Action: TTE shares are up 0.32% at $69.39 premarket at the last check Tuesday.

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