Eastward Bound: TotalEnergies Secures Two New Contracts In Asia

TotalEnergies SE TTE shares are trading lower premarket today. The company disclosed that it is signing two new LNG medium-and long-term contracts in Asia.

In particular, the company announced a sales and purchase agreement (SPA) with Indian Oil Corporation (IOCL) to deliver up to 800,000 tons per year of LNG to India for ten years from 2026.

Also, TotalEnergies penned an agreement (HoA) with Korea South-East Power to deliver up to around 500,000 tons per year of LNG to South Korea for five years from 2027.

Read: TotalEnergies To Supercharge Energy Collaboration In India With $700M Boost To Adani Group: Report

These agreements solidify mid-term sales channels for TotalEnergies’ global LNG supply and their presence in Asia, a key market where they’re committed to aiding customers’ decarbonization efforts.

Gregory Joffroy, Senior Vice President, LNG, said, “We are delighted to have been selected by IOCL and Korea South-East Power to supply LNG to India and Korea. These contracts enable us to contribute to the energy security and transition of these countries, to which we have an enduring commitment.”

In February, TotalEnergies sealed a cooperation deal with Oil and Natural Gas Corporation (ONGC) in India to detect methane emissions.

Investors can gain exposure to the stock via First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF EIPX and Keating Active ETF KEAT.

Also Read: TotalEnergies Explores ‘Cross-Listing’ In US And Europe – What’s Going On?

Price Action: TTE shares are down 1.36% at $70.16 premarket at the last check Tuesday.