India: Total Signs 5-year LNG Supply Agreement with ArcelorMittal Nippon Steel
May 20 2021 - 03:30AM
Dow Jones News
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and ArcelorMittal Nippon
Steel(1) (AMNS) have signed an agreement for the supply of up to
500,000 tons of liquefied natural gas (LNG) per year until
2026.
The LNG will be sourced from Total's global portfolio and
offloaded either in Dahej or Hazira LNG Terminal, on the West Coast
of India. AMNS will use the LNG to run its steel and power plants
located in Hazira, Gujarat state.
"We are pleased to partner with AMNS and to supply the growing
industrial LNG demand in India, a country that aims to more than
double the share of natural gas in its energy mix by 2030 compared
to today," said Thomas Maurisse, Senior Vice President LNG at
Total. "The supply of LNG will contribute to the reduction of
AMNS's carbon emissions, in line with Total's ambition to offer its
customers energy products that emit less CO(2) and to support them
in their own low-carbon strategies."
This agreement strengthens Total's relationship with AMNS and
contributes to the decarbonization of India's steel industry, which
still rely heavily on coal.
Total, Second Largest Private Global LNG Player
Total is the world's second largest privately owned LNG player,
with a global portfolio of nearly 50 Mt/y by 2025 and a global
market share of around 10%. Thanks to its interests in liquefaction
plants in Angola, Australia, Egypt, the United Arab Emirates, the
United States, Nigeria, Norway, Oman, Russia and Qatar, the company
markets LNG on all world markets. Total also benefits from strong
and diversified positions throughout the LNG value chain, including
gas production, LNG transportation, LNG trading, and some recent
development in the LNG industry for maritime transport.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them. This document may contain forward-looking
information and statements that are based on a number of economic
data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TOTAL
SE nor any of its subsidiaries assumes any obligation to update
publicly any forward-looking information or statement, objectives
or trends contained in this document whether as a result of new
information, future events or otherwise.
(1) AMNS India is a joint venture between ArcelorMittal (60%)
and Nippon Steel (40%).
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210520005388/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: Total
Copyright Business Wire 2021
(END) Dow Jones Newswires
May 20, 2021 03:15 ET (07:15 GMT)
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