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PARIS - TotalEnergies (EPA:TTEF) SE (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed a decade-long agreement to supply Gujarat State Petroleum Corporation Limited (GSPC) with 400,000 tons of liquefied natural gas (LNG) annually starting in 2026. This arrangement was formalized in New Delhi during the India Energy Week, marking a significant step for GSPC’s long-term strategy to secure competitive LNG.
The LNG, sourced from TotalEnergies’ global portfolio, will be delivered to terminals along India’s west coast, addressing the needs of GSPC’s industrial customers. Additionally, the energy will be utilized for domestic consumption in households, businesses, and service stations for vehicles using Compressed Natural Gas (CNG), including auto-rickshaws.
Gregory Joffroy, Senior Vice President LNG at TotalEnergies, expressed the company’s pleasure at being selected by GSPC to supply LNG in India. He highlighted the deal as evidence of TotalEnergies’ commitment to India’s energy transition and security of supply.
Milind Torawane, Managing Director at GSPC, emphasized the importance of the agreement in reinforcing GSPC’s strategy to bridge the growing natural gas demand-supply deficit in Gujarat and across India. He noted that the collaboration with TotalEnergies, a leading LNG player, is aligned with GSPC’s goal to expand its gas trading capabilities.
Natural gas is expected to play a crucial role in India’s energy transition, offering a cleaner alternative for industrial processes, cooking, and transportation, while improving air quality by cutting greenhouse gas emissions and pollution.
GSPC, a state-owned entity, is a prominent oil and gas company in India and a key player in gas trading. The company, part of the GSPC Group, has a significant presence across the gas value chain, including LNG terminals, gas transmission, distribution, and power generation. In Gujarat, GSPC and its group companies supply a substantial portion of the state’s natural gas demand, operating over 800 CNG stations.
TotalEnergies, a global integrated energy company, is involved in the production and marketing of various energies, placing sustainability at the core of its operations. The company aims to increase the share of natural gas in its sales mix to nearly 50% by 2030, focusing on reducing carbon emissions and eliminating methane emissions associated with the gas value chain.
This news is based on a press release statement.
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