TotalEnergies will supply Sembcorp, after establishing a Purchase and Sale Agreement for the supply of liquefied natural gas (LNG).<\/p>\n\n
This agreement involves the supply of up to 0.8 million tons per year of LNG for<\/strong> an extended period of sixteen years, starting its phases in 2027. And it will come from the extensive global portfolio of \n TotalEnergies<\/strong>\n<\/a>s broad global portfolio, as mentioned in an official statement issued by the company.<\/p>\n\n This new pact reinforces the existing SPA agreement between the two companies, which will run until 2029, further consolidating their long-term business relationship.<\/p>\n\n A TotalEnergies <\/strong>earnings report detailed that the company’s oil and gas production reached 2,462 barrels of oil equivalent per day (boepd) in the fourth quarter of 2023.<\/p>\n\n This performance benefited from a 7% increase in LNG production, which helped to partially offset the divestment of Canadian oil sands assets during the same period.<\/p>\n\n On the other hand, in November 2023, the company completed the sale of TotalEnergies EP Canada Ltd., which has a 31.23% working interest in the Fort Hills oil sands mining project, along with commitments to midstream<\/a><\/strong> associates, a Suncor Energy Inc.<\/strong> for an approximate amount of US$1.1 billion.<\/p>\n\n For its part, Sembcorp Industries reported solid annual performance for 2023. Net income was up 38% year-on-year, reaching US$740 million, a higher benefit compared to 2022. This increase is mainly attributable to higher contributions from the gas and related services and renewable energy segments.<\/p>\n\n Specifically, net income recorded a 30 percent increase to US$601.26 million in 2023 from US$462.28 million in 2022. This rise is largely due to high energy prices in Singapore, reflecting Sembcorp’s ability to adapt and respond to market dynamics.<\/p>\n\n Wong Kim Yin, group president and CEO of Sembcorp Industries, expressed his satisfaction with the growth momentum seen in the renewable energy business during 2023. Entering into multiple long-term power purchase agreements (PPAs) has been key to securing solid revenues for the gas and related services sector.<\/p>\n\n This strategic approach not only reflects Sembcorp’s commitment to sustainability and corporate responsibility, but also demonstrates its ability to anticipate and adapt to global energy trends.<\/p>\n\n The signing of these agreements and the reported financial performance are testament to the company’s vision for the future and its commitment to innovation and operational excellence.<\/p>\n\n The collaboration between TotalEnergies SE and Sembcorp Fuels<\/strong>, together with the strategic agreements signed with \n QatarEnergy<\/a>\n<\/strong>highlight the importance of international partnerships in strengthening energy security.<\/p>\n\n Don’t miss any of our posts and follow us on social media!<\/strong><\/p>\n\n Inspenet.com<\/a> YouTube<\/a> LinkedIn<\/a> Facebook<\/a> Instagram<\/a><\/p>\n\n Source: Rigzone<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Joshua Falcon, March 4, 2024.TotalEnergies to supply Sembcorp<\/h2>\n\n
Sembcorp’s annual growth<\/h2>\n\n
Satisfaction and projection<\/h2>\n\n
Consolidated alliance and support between companies<\/h2>\n\n
\nTotalEnergies SE has entered into a significant agreement by signing a Sale and Purchase Agreement (SPA) with Sembcorp Fuels, an entity wholly owned by Singapore-based Sembcorp Industries, for the supply of liquefied natural gas (LNG).<\/p>\n","protected":false},"author":8404,"featured_media":134589,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categoria_noticias":[13026,13036],"etiqueta_noticias":[],"class_list":["post-134822","noticias","type-noticias","status-publish","has-post-thumbnail","hentry","categoria_noticias-energy","categoria_noticias-oil-and-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias\/134822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias"}],"about":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/types\/noticias"}],"author":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/users\/8404"}],"replies":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/comments?post=134822"}],"version-history":[{"count":0,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/noticias\/134822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/media\/134589"}],"wp:attachment":[{"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/media?parent=134822"}],"wp:term":[{"taxonomy":"categoria_noticias","embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/categoria_noticias?post=134822"},{"taxonomy":"etiqueta_noticias","embeddable":true,"href":"https:\/\/inspenet.com\/en\/wp-json\/wp\/v2\/etiqueta_noticias?post=134822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}