TotalEnergies, an integrated energy company, has entered into a Heads of Agreement (HoA) with BOTAŞ, a Turkish petroleum pipeline corporation, to supply 1.1 million tons of liquefied natural gas (LNG) annually over the next decade.
This agreement is part of TotalEnergies’ plan to boost LNG sales in the Turkish market, starting in 2027.
This initiative aligns with TotalEnergies’ emphasis on natural gas as a transitional energy source.
By mitigating its intermittent nature, it encourages the growth of renewable energy sources and helps reduce emissions by substituting coal for electricity generation.
Also read: TotalEnergies to Invest $444 Million in Solar Portfolio with Adani Green Energy
Gregory Joffroy, the Senior Vice President of LNG at TotalEnergies said, “We are pleased to initiate a new long-term collaboration with BOTAŞ, a key partner for the Company in Türkiye.
He added, “This agreement enables us to secure long-term sales and reduce our exposure to spot market gas price fluctuations.”
As of 2023, TotalEnergies had a portfolio of 44 million tons annually (Mt/y) and interests in liquefaction plants worldwide.
The company is involved in all aspects of the LNG value chain, including access to over 20 Mt/y of regasification capacity in Europe, transportation, and production.
Committed to lowering carbon emissions, TotalEnergies wants to boost the percentage of natural gas in its sales mix to over 50% by 2030.
Additionally, the company is collaborating with local partners to facilitate the transition from coal to natural gas.