India: Total Signs 5-year LNG Supply Agreement with ArcelorMittal Nippon Steel
20 Mayo 2021 - 2:00AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and ArcelorMittal Nippon
Steel1 (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 CO2 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%).
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