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China’s Sinopec signs agreement for 15-yr LNG deal with TotalEnergies

Published by Uma Rajagopal

Posted on November 4, 2024

1 min read

· Last updated: January 29, 2026

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Sinopec and TotalEnergies agreement signing for LNG deal - Global Banking & Finance Review
Image captures the signing event of Sinopec's 15-year LNG deal with TotalEnergies during the China International Import Expo, highlighting a significant milestone in global energy agreements.
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(Reuters) – China’s state oil and gas major Sinopec Corp said on Monday it has signed Heads of Agreement to buy from TotalEnergies two million metric tons of liquefied natural gas a year for 15 yrs starting 2028. The deal, signed in Shanghai at the China International Import Expo, is a step forward from a […]

(Reuters) – China’s state oil and gas major Sinopec Corp said on Monday it has signed Heads of Agreement to buy from TotalEnergies two million metric tons of liquefied natural gas a year for 15 yrs starting 2028.

The deal, signed in Shanghai at the China International Import Expo, is a step forward from a strategic alliance the companies agreed in May, Sinopec said in a statement.

(Reporting by Chen Aizhu, Editing by Louise Heavens)

Frequently Asked Questions

What is liquefied natural gas?
Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state, making it easier to store and transport. It is primarily used for heating, electricity generation, and as a fuel for vehicles.
What is the significance of LNG deals?
LNG deals are significant as they facilitate the long-term supply of natural gas, ensuring energy security and stability in pricing for countries reliant on gas imports for domestic energy needs.
What is Sinopec?
Sinopec, or China Petroleum & Chemical Corporation, is one of China's largest oil and gas companies, involved in the exploration, production, and sale of oil and gas, as well as refining and distribution.

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