Beijing: CNOOC, one of the largest energy companies in China, has signed an LNG cooperation agreement with Total to strengthen their partnership.
Total has been supplying China with up to 1m tons per year of LNG since 2010. In addition to agreeing on a price review regarding this existing supply, the two companies have set a framework for an additional supply of 1m tons per year as well as further cooperation throughout the LNG value chain.
â€œAs a world leader in LNG, Total seeks to strengthen its position in Asiaâ€™s growing LNG markets, where China is among the largest players with 20% annual growth. This new agreement allows us to expand our LNG supply and reinforces our cooperation with Chinese companiesâ€, commented Yves-Louis DarricarrÃ¨re, President Total Upstream. [28/03/14]