Sembcorp Industries is buying up to 0.8 million tonnes of liquefied natural gas (LNG) per annum from TotalEnergies. The value of this deal is not disclosed.
Delivery is expected to commence in 2027 for 16 years.
This agreement is on top of an earlier LNG deal between the two companies that will run till 2029.
According to Sembcorp, buying from TotalEnergies will help diversify its existing natural gas supply from piped and liquefied sources globally, such as Indonesia.
"As Singapore’s leading natural gas importer, Sembcorp is committed to supporting Singapore with a stable and resilient supply of energy in its transition towards a net-zero future," says Sembcorp.
Sembcorp shares changed hands at $5.10 ahead of the lunch break, up 2%.
