GBAF Logo
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.
Business

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

Published by Uma Rajagopal

Posted on November 4, 2024

1 min read
Add as preferred source on Google
partnership

(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.

Tags

Related Articles

Image for Why Some Companies Stay Profitable for Decades While Others Disappear Almost Overnight

Why Some Companies Stay Profitable for Decades While Others Disappear Almost Overnight

Image for The Stability Premium: Why Businesses That Master Uncertainty Will Define the Next Decade

The Stability Premium: Why Businesses That Master Uncertainty Will Define the Next Decade

Image for The Quiet Reinvention of Business: Why the Most Successful Companies Are Learning to Think Slower in a Faster World

The Quiet Reinvention of Business: Why the Most Successful Companies Are Learning to Think Slower in a Faster World

Image for The Quiet Advantage: Why the Most Resilient Businesses Are Winning Without Making Noise

The Quiet Advantage: Why the Most Resilient Businesses Are Winning Without Making Noise

Image for The Productivity Illusion: Why Businesses Are Busier Than Ever but Growing Slower

The Productivity Illusion: Why Businesses Are Busier Than Ever but Growing Slower

Image for The Human Advantage: Why Businesses Are Rediscovering the Value of People in the Age of Artificial Intelligence

The Human Advantage: Why Businesses Are Rediscovering the Value of People in the Age of Artificial Intelligence

More from Business

Explore more articles in the Business category

Image for The Invisible Edge: Why the Companies That Adapt Quietly Are Outperforming Everyone Else
The Invisible Edge: Why the Companies That Adapt Quietly Are Outperforming Everyone Else
Image for The Great Workplace Reset: Why Businesses Are Rethinking Everything They Once Knew About Productivity
The Great Workplace Reset: Why Businesses Are Rethinking Everything They Once Knew About Productivity
Image for The Decision Crisis Inside Modern Business: Why Companies Have More Data Than Ever but Less Clarity
The Decision Crisis Inside Modern Business: Why Companies Have More Data Than Ever but Less Clarity
Image for The Companies That Will Survive the Future May Not Be the Ones Anyone Expects
The Companies That Will Survive the Future May Not Be the Ones Anyone Expects
Image for The Real Cost of Expanding to the US: Hidden Costs Founders and Startups Must Know
The Real Cost of Expanding to the US: Hidden Costs Founders and Startups Must Know
Image for The Business Implications of the New PCI Security Framework
The Business Implications of the New PCI Security Framework
Image for Javier Loya on Why an Ownership Mindset Is Critical to Building Enduring Businesses
Javier Loya on Why an Ownership Mindset Is Critical to Building Enduring Businesses
Image for The Value Shift: Why Intangible Assets Now Define Business Worth
The Value Shift: Why Intangible Assets Now Define Business Worth
Image for The Trust Economy: Why Reputation Is Becoming the Ultimate Currency
The Trust Economy: Why Reputation Is Becoming the Ultimate Currency
Image for The Speed Illusion: Why Faster Decisions Don’t Always Win
The Speed Illusion: Why Faster Decisions Don’t Always Win
Image for The Resilience Premium: Why Stability Is Becoming More Valuable Than Growth
The Resilience Premium: Why Stability Is Becoming More Valuable Than Growth
Image for The Profit Paradox: Why Growth No Longer Guarantees Value
The Profit Paradox: Why Growth No Longer Guarantees Value
View All Business Posts