Lagos –– In line with its strategy to grow its long-term Liquefied Natural Gas, LNG, sales, TotalEnergies HAS announced the signing of a Heads of Agreement, HoA, with BOTAŞ for the delivery of 1.1 million tons of LNG per year for ten years starting from 2027.
This agreement allows TotalEnergies to strengthen a long-term presence in the Turkish LNG market. Natural gas plays a crucial role as a transition energy, addressing the intermittency of renewable energy sources and reducing emissions by replacing coal in electricity generation.
“We are pleased to initiate a new long-term collaboration with BOTAŞ, a key partner for the Company in Türkiye. This agreement enables us to secure long-term sales and reduce our exposure to spot market gas price fluctuations,” Gregory Joffroy, Senior Vice President, LNG at TotalEnergies said.
TotalEnergies is the world’s third largest LNG player with a global portfolio of 44 Mt/y In 2023 thanks to its interests in liquefaction plants in all geographies. The Company benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 Mt/y of regasification capacity in Europe, trading, and LNG bunkering.
TotalEnergies’ ambition is to increase the share of natural gas in its sales mix to close to 50% by 2030, to reduce carbon emissions and eliminate methane emissions associated with the gas value chain and to work with local partners to promote the transition from coal to natural gas.
