TotalEnergies signs Asian gas co-development and LNG supply, offtake deals
· Energy · Malaysia · United Arab Emirates
TotalEnergies has sealed two sets of agreements expanding its Asian gas footprint. Alongside PTTEP, KUFPEC and Petronas, the company agreed to co-develop gas fields off the coast of Sarawak, Malaysia, targeting more than 6.5 trillion cubic feet of gas. Separately in its LNG business, TotalEnergies locked in new supply from ADNOC in the UAE and signed a long-term offtake deal with a Chinese firm, deepening its position on both sides of the supply chain. The deals combine upstream co-development with downstream LNG offtake, tying Malaysian and Middle Eastern supply to Asian buyers. They come as Asian gas demand and LNG contracting remain central to major oil companies' portfolios.
Why it matters：The deals show majors locking in Asian gas reserves and LNG offtake as long-term contracting becomes the key battleground for supply security.
Key points
- The Sarawak co-development targets over 6.5 trillion cubic feet of gas.
- Partners include PTTEP, KUFPEC and Petronas.
Sources (original reporting)
More stories from this day
- TotalEnergies joins Sarawak gas partners; signs ADNOC LNG supply and China offtake
- Chinese solar makers post widening losses as DER study cites $614B savings
- China's quarterly CO2 emissions fall 3.1%, largest drop since Covid
- US lawmakers seek briefing from Nvidia's Jensen Huang over Megaspeed executive
- Record-low temperature reached on China's space station
- Sinopec Jingmen produces three new high-end lubricant base oils