Sembcorp Industries (Sembcorp) announces that its wholly-owned subsidiary, Sembcorp Fuels (Singapore) Pte Ltd, has signed a Sale and Purchase Agreement (SPA) with TotalEnergies Gas & Power Asia Private Limited to import up to 0.8 million tons of liquefied natural gas (LNG) per annum. Delivery is expected to commence from 2027 for a tenure of 16 years. This SPA is in addition to the current LNG purchase agreement that runs between the two companies until 2029.
The SPA diversifies Sembcorp’s existing natural gas supply from piped and liquefied sources globally. 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.
The signing of the SPA is in the ordinary course of business and is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.
