TotalEnergies, the French multinational oil and gas company, is reportedly considering its options on where to send its gas production from its recently approved 11B/12B liquefied natural gas (LNG) project in Mozambique.
According to sources close to the company, TotalEnergies is weighing up the best location to send its gas, which is expected to produce around 13.1 million tonnes of LNG per year, as a result of a significant shift in the global market for LNG.
This shift has been caused by the increased demand for gas in Asia, particularly in China, which has led to a surge in prices and a tightening of supply.
One potential option for TotalEnergies is to send its gas to China, which is currently the largest consumer of LNG in the world. However, the company is said to be concerned about the country’s recent regulatory crackdown on the energy sector, which has raised questions about the long-term stability of the market.