TotalEnergies, South Korea's Hanwha ink 15-year LNG deal

French energy company TotalEnergies and South Korea's Hanwha Energy Corporation signed a 15-year sale and purchase agreement to supply liquefied natural gas (LNG), the company announced on Tuesday.

TotalEnergies will send 600,000 metric tons of LNG a year starting in 2024.

Hanwha will use the LNG, sourced from TotalEnergies’ global LNG portfolio at its 1 gigawatt gas-fired, combined-cycle power plant, which is currently under construction.

The LNG will be delivered to the Tongyeong regasification terminal in South Korea.

South Korea was the world's third-largest importer of LNG in 2021.