TotalEnergies signs 15-year LNG supply deal with Jiangsu Guoxin

TotalEnergies has agreed to supply 900,000 tons of liquefied natural gas (LNG) annually to China’s Jiangsu Guoxin Group for 15 years, with deliveries expected to begin in 2028.

The receiving point is Jiangsu Guoxin’s new terminal in Rudong, Jiangsu Province. The LNG is intended for city gas supply and flexible power generation. The start of deliveries remains subject to finalization of the sales and purchase agreements.

What has been signed, and what is still conditional?

The signed agreement sets a 15-year term and an annual volume of 900,000 tons, but it stops short of the final sales and purchase agreements needed before deliveries. The start date therefore remains tied to contract completion as well as terminal readiness.

Gregory Joffroy, Senior Vice President, LNG at TotalEnergies, said: “We are very pleased to have entered into this long-term agreement with Jiangsu Guoxin Group, which reflects the strength of our integrated LNG model and our ability to build enduring partnerships with leading local Chinese counterparties.”

The agreement adds Chinese long-term offtake to TotalEnergies’ portfolio of LNG sales agreements. The company’s operations span production, transportation, regasification, trading and LNG bunkering, which Joffroy referenced through the integrated-model description.

The volume and term are agreed, while the final sales documents and 2028 startup remain open.

Where will the LNG go, and what demand will it serve?

At Rudong, the gas has two stated end uses:

• City gas supply.
• Flexible power generation.

Jiangsu Guoxin Group is a state-owned investment and operating company under the Jiangsu provincial government. Its activities span energy, finance and strategic emerging industries.

TotalEnergies said the deal should help secure energy supplies and meet peak demand in Jiangsu. The province ranks second in China by both gross domestic product and natural gas consumption, giving the agreement a large, diversified demand base at the receiving end.

Rudong has a defined destination and two demand roles: urban gas and flexible generation.

How large is the deal within TotalEnergies’ LNG portfolio?

TotalEnergies reported a global LNG portfolio of 44 million tonnes in 2025. The portfolio includes interests in liquefaction plants across different regions, supported by operations covering production, transportation, regasification, trading and LNG bunkering.

The company also has access to more than 20 million tonnes per year of regasification capacity in Europe. It aims to increase natural gas to nearly 50% of its sales mix by 2030. These are company-wide figures, not measures of the Rudong agreement’s capacity.

For TotalEnergies, the transaction expands its portfolio of long-term LNG sales agreements in China. For Jiangsu Guoxin, it provides a planned supply line, although final purchase documents are still outstanding.

The deal adds Chinese long-term exposure to a portfolio already measured in tens of millions of tonnes.

What must happen before the first delivery?

Two milestones sit between the signed agreement and the first delivery. The parties must finalize the sales and purchase agreements, and Jiangsu Guoxin’s new Rudong terminal must be ready to receive LNG for the 2028 delivery window.

The announcement gave no contract price, terminal capacity or construction schedule. It also did not identify the supply route or specify how much of the 900,000-ton annual volume would come from each liquefaction asset. Those details remain outside the public terms.

Buyers should keep the figures separate: 900,000 tons a year is the Rudong volume, while 44 million tonnes is TotalEnergies’ global portfolio for 2025 and more than 20 million tonnes per year is its European regasification access.

The watch items are final sales documents, terminal readiness and confirmation that deliveries will start in 2028.