SEYPEC and TotalEnergies extend fuel supply partnership for seven years

Seychelles Petroleum Company (SEYPEC) and TOTSA TotalEnergies Trading S.A. (TOTSA), acting through its Dubai branch, signed an agreement yesterday 14 October 2026 extending their long-standing fuel supply relationship for a further seven years.

The agreement strengthens the framework for Seychelles’ fuel supply and includes a Payment Extension Facility to help SEYPEC manage payments for petroleum imports amid exceptional international market pressures.

The signing ceremony took place at SEYPEC House, with the agreement signed by Mr Fabien Lantigner, Managing Director of TOTSA’s Dubai Office and General Manager Africa, and Captain Adrian Mondon, Chief Executive Officer of SEYPEC. The signing follows Cabinet approval of the extension at its meeting on 12 August 2026.

The agreement amends the existing term contract for the delivery of petroleum products at Port Victoria, Seychelles’ main entry point for fuel imports. TOTSA has been SEYPEC’s principal fuel supplier for more than 20 years. “This seven-year extension supports SEYPEC’s mandate to ensure a reliable fuel supply for Seychelles. Our relationship with TOTSA has developed over more than two decades, and this agreement provides continuity while helping us respond to the financial pressures facing the country’s fuel supply,” said Captain Mondon.

International fuel prices rose sharply in 2026 as conflict in the Middle East disrupted supply and shipping routes. These pressures increased the cost of petroleum imports, with consequences for households, businesses and the wider Seychelles economy.

The Government of Seychelles, through SEYPEC, has cushioned the impact by limiting the extent to which higher import costs have been passed on to consumers. This support has placed significant demands on SEYPEC’s financial resources. The Payment Extension Facility provides additional time to settle payments for petroleum products supplied by TOTSA. It forms part of SEYPEC’s response to these pressures, alongside continued management of procurement, pricing and cash flow.

“As a small island economy dependent on imported fuel, Seychelles is particularly exposed to international price shocks. This arrangement gives us greater flexibility to manage the payment burden while supporting continuity of supply. Our responsibility is to balance affordability today with SEYPEC’s ability to keep supplying the country in the years ahead,” Captain Mondon added.

Speaking at the ceremony, Mr. Lantigner highlighted the strength of the relationship between the two companies and TOTSA’s continued commitment to supporting Seychelles’ fuel supply needs.

He reiterated this commitment during a courtesy call on Mr. Patrick Payet, Secretary of State for Finance and Chairman of SEYPEC’s Board of Directors, noting that the extension builds on more than two decades of cooperation and a shared understanding of the challenges facing a small island economy.