TotalEnergies and the Gujarat State Petroleum Corporation Limited (GSPC), a state-owned oil and gas company, announced the signing of a long-term Sale and Purchase Agreement (SPA) for a term of ten years starting in 2026.
Under this agreement, TotalEnergies will supply GSPC with 400,000 tons of liquefied natural gas (LNG), amounting to six cargoes per year.
The LNG, sourced from TotalEnergies' global portfolio and delivered to terminals on India's west coast, will primarily serve GSPC's industrial customers. It will also supply Indian households for domestic use, businesses, and service stations for vehicles running on Compressed Natural Gas (CNG), such as auto-rickshaws.
“We are delighted to have been chosen by GSPC to supply them with LNG in India. This new deal underscores TotalEnergies' leadership in the LNG domain and commitment to India’s energy transition and security of supply”, said Gregory Joffroy, Senior Vice President LNG at TotalEnergies.
“This agreement marks a major step towards reinforcing GSPC’s strategy to secure competitive LNG on a long-term basis, helping to bridge the growing natural gas demand-supply deficit in Gujarat and across India. Partnering with TotalEnergies, one of the largest LNG players in the world, aligns with GSPC’s strategy to build up its long-term portfolio and become a leading Indian player in gas trading.
“This deal will further strengthen GSPC’s portfolio and its operations in the gas value chain, leveraging GSPC Group’s transmission and distribution infrastructure,” said Milind Torawane, Managing Director at GSPC.