For Total, LNG2019 was an event not to be missed. Present in China for more than 35 years, Total became the world #2 in LNG when it acquired Engie's upstream LNG assets in 2018, and expects to have a 10% share of the global market in 2020 (40 million tons). The company is actively seeking to carve out a spot for itself in the world's most buoyant gas market, one that will see projected average annual growth of 5% a year in the coming decades. "It is absolutely important for us to meet clients, so that people see us, as well as maybe discover the new Total with a bigger portfolio," commented Laurent Vivier, Senior Vice President, Gas at Total.
And Total is walking the talk with the signature with of a major sale and purchase agreement to supply Guanghui with 0.7 million tons of liquefied natural gas a year for 10 years. "Guanghui is an increasingly successful LNG market player in China with clear ambitions for growth. This new supply contract is in line with Total's strategy to expand its presence in the Chinese LNG market, which saw imports soar by 41% in 2018 and will continue to be a key driver of LNG market growth in the future," pointed out Laurent Vivier.
The Chinese government continues to open up the market. "In recent years, five private gas terminals have been commissioned and several others are currently under construction or planned," comments William Zhao, Total China Country Chair. "They will help to diversify China's LNG supply, which will in turn fuel competition."