TotalEnergies and Sempra have struck a deal for liquefied natural gas (LNG) supply, as well as onshore and offshore renewable projects.
The LNG project is being built on the west coast of Mexico, supplying gas to both Asia and South America. TotalEnergies will acquire a 16.6% stake in the project and be able to offtake a third of its production.
Sempra will also acquire 30% of TotalEnergies’ equity in a Californian offshore wind project, with the reversal on a Sempra onshore wind project in Mexico.
Patrick Pouyanné, Chairman & CEO of TotalEnergies, said: “We are pleased to further strengthen our partnership with Sempra in North America in LNG and to extend it to renewables.
“Over the past years, TotalEnergies has become the leading exporter of US LNG and has built up a pipeline of 4GW of solar projects and 3GW of offshore wind projects currently under development in the US.”