South Korea’s KOGAS Signs 10-Year LNG Agreement with TotalEnergies

TotalEnergies signed a 10-year deal to supply South Korea’s KOGAS with 1 million tons of LNG per year starting in 2027, expanding deliveries to 3 million tons annually by 2028.

(P&GJ) — TotalEnergies has signed a 10-year agreement to supply 1 million tons per year of liquefied natural gas (LNG) to South Korea’s KOGAS, with deliveries set to begin at the end of 2027.

The contract, awarded through an international tender, will raise TotalEnergies’ LNG supply to KOGAS to 3 million tons annually starting in 2028. Supplies will come from the company’s global LNG portfolio, particularly U.S. production and offtake, to serve Korean industries, businesses and households.

"We thank KOGAS for its trust in TotalEnergies’ ability to supply its Asian customers with reliable and competitive LNG through its global portfolio. This agreement enables TotalEnergies to secure long-term outlets in Asia, consistently with the growth of its LNG supply, particularly from the United States," said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

KOGAS President and CEO Yeonhye Choi added: "We are pleased to finalize this agreement with TotalEnergies, which not only enhances the economic value of our LNG portfolio but also contributes to diversifying our sources of LNG supply. This engagement reinforces our commitment to securing a stable LNG supply amid a rapidly changing global energy landscape. We look forward to further strengthening our relationship with TotalEnergies to support a sustainable LNG value chain."

KOGAS is the world’s largest LNG importer, while TotalEnergies is one of the largest global suppliers.