TotalEnergies to supply LNG to Korea HD Hyundai Chemical over 7 years

SINGAPORE (ICIS)–France’s TotalEnergies said on Tuesday it will supply 200,000 tonnes/year of liquefied natural gas (LNG) to South Korea’s HD Hyundai Chemical for seven years starting 2027.

Under the agreement, TotalEnergies will supply natural gas to one of HD Hyundai Chemical’s industrial sites until 2033, the French energy firm said in a statement.

HD Hyundai Chemical operates petrochemical plants at Daesan in South Chungcheong province in southwestern South Korea.

“This agreement allows us to continue securing long-term sales in Asia and reduce our exposure to spot market gas prices,” said Gregory Joffroy, senior vice president of LNG at TotalEnergies.

Financial details of the deal were not disclosed.

HD Hyundai Chemical was formed through a strategic joint venture between South Korean producers HD Hyundai Oilbank and Lotte Chemical.

TotalEnergies is a global integrated energy company involved in oil and biofuels, natural gas and green gases, as well as renewables and electricity.