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Total & Sonatrach Extend Partnership in Liquefied Natural Gas in Algeria

Gasoil News - Published on Mon, 29 Jun 2020

Image Source: Total Sonatrach
Total and Sonatrach have signed an agreement to renew their partnership in the field of liquefied natural gas. This agreement notably allows to extend the existing supply contracts for 3 additional years in order to provide 2 million tons per year of Algerian LNG to the French market, primarily through the LNG terminal at Fos Cavaou. The agreement also includes the sub-charter of an LNG tanker of Total by Sonatrach.

Total has been a historic player in the energy sector in Algeria for almost 70 years. The group is active in oil and gas exploration and production (participating interests in the TFT II and Timimoun gas fields and in the oil fields of the Berkine basin), as well as in liquefied natural gas through supply contracts with Sonatrach. The group is also active in the marketing of lubricants and bitumens. In addition, Total and Sonatrach have launched engineering studies for a petrochemical project in Western Algeria.

Total is the second-largest private global LNG player, with an overall portfolio of around 50 Mt/y by 2025 and a worldwide market share of 10%. With over 34 Mt of LNG sold in 2019, the Group has solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the United States, Australia or Angola, the Group sells LNG in all markets.

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Posted By : Yogender Pancholi on Mon, 29 Jun 2020
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