Displaying items by tag: TotalEnergies

TotalEnergies strengthens its position as the market leader in rooftop solar installations in France by ranking first in the latest call for tenders issued by the French Energy Regulatory Commission (CRE), winning more than 80 MWp or 22% of the capacity awarded.

This new success strengthens TotalEnergies’ position as one of the major developers in France for solar installations on rooftops with a capacity exceeding 500 KWp. This includes installations such as building rooftops, greenhouses, warehouses, canopies and agrivoltaic shades.

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By solarizing its B2B customers’ sites, TotalEnergies supports the energy transition of businesses across various sectors. TotalEnergies sells renewable electricity to its customers, which is generated on their own sites, allowing them to significantly reduce their electricity bills while reducing their carbon footprint. 

“We are very proud of this performance which attests to our expertise in rooftop photovoltaics, a fast-growing market,” said Marin de Montbel, Managing Director, TotalEnergies Renewables France.“All these new projects confirm our status as a key partner to companies engaged in the energy transition and the decarbonization of their operations in France.”

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Patrick Pouyanné, Chairman and CEO, and the members of the Executive Committee will present TotalEnergies’ Strategy & Outlook in New York today. The webcast of the presentation in English is available on totalenergies.com.

TotalEnergies stays the course of its balanced multi-energy strategy…

TotalEnergies reaffirms the relevance of its balanced multi-energy strategy considering the developments in the oil, gas and electricity markets. Anchored on two pillars, Oil & Gas, notably LNG, and Integrated Power, the energy at the heart of the energy transition, the Company is in a very favorable position to take advantage of changing energy prices.

Thanks to refocusing the oil and gas portfolio on assets and projects with low breakeven and low greenhouse gas emissions, and to the diversification into electricity, notably renewable, through an integrated strategy from production to customer, the Company is implementing its transition strategy while offering an attractive shareholder return.

…responsibly producing low cost, low emission Oil & Gas from a rich portfolio

While drastically lowering the emissions from its operations, TotalEnergies plans to grow Oil & Gas production by 2-3 % per year over the next five years, predominantly from LNG, thanks to its rich low cost, low emission upstream portfolio.

The Company will notably develop a top-tier pipeline of LNG projects (Qatar North Field Expansion, Papua LNG, ECA LNG and Rio Grande in US, Mozambique LNG) while leveraging its competitive advantage with leading positions in Europe regasification and in US exports. TotalEnergies will also concentrate efforts to develop its portfolio of high-return oil projects (Brazil, Gulf of Mexico, Iraq, Uganda) recently enriched with exploration successes in Suriname and Namibia.

The Oil & Gas business is expected to generate more than $3 billion of additional underlying cash flow in 2028 compared to 2023 at constant prices.

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…and developing a profitable and differentiated Integrated Power model to create a future cash engine of the Company

TotalEnergies is replicating its integrated Oil & Gas business model into electricity to achieve a ROACE of ~12%, equivalent to upstream Oil & Gas ROACE at 60 $/b, above the “utility” model traditional returns.

The Company is building a world class cost-competitive portfolio combining renewable (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. TotalEnergies is leveraging its purchasing power to optimize its investment costs and industrialize its renewable assets through digital to lower operating costs. By utilizing its fortress balance sheet, TotalEnergies will capture additional value from price volatility through merchant exposure.

The Company aims to grow its power generation to more than 100 TWh by 2030, investing $4 billion per year and increase cash flow from ~$2 billion in 2023 to more than $4 billion by 2028, becoming net cash-flow positive.

TotalEnergies expects to distribute about 44% of its CFFO in 2023 and increases shareholder distribution guidance to more than 40% of CFFO beyond 2023.

Given the strong fundamentals of the Company, the clear and disciplined investment policy, and the solid potential for cash generation growth in the coming years, the Board of directors has taken the following decisions:

  • In 2023, allocate $1.5 billion of the Canadian assets’ divestment proceeds to share buybacks, to reach $9 billion. The Company expects to return about 44% of CFFO to shareholders in 2023.
  • Increase the shareholder distribution guidance to more than 40% of CFFO through the cycles keeping net investments between $16-18 billion per year over 2024-28 to implement the transition of the Company.

About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people

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TotalEnergies EP Angola Block 20 has finalized the sale to PETRONAS ANGOLA E&P LTD (PAEPL), a company belonging to the PETRONAS group of companies, of a 40% interest in Block 20 in the Kwanza Basin in Angola. The transaction was completed for an amount of $400 million as at January 1st, 2023, subject to customary price adjustments.

TotalEnergies retains the operatorship and a 40% interest in Block 20, alongside PAEPL (40%) and Sonangol Pesquisa e Produção S.A. (20%).

2021 07 28 124820Block 20 contains the Cameia and Golfinho oil discoveries, located around 150 km southwest of Luanda. These discoveries are planned to be developed through a system of subsea wells connected to a FPSO (Floating Production, Storage and Offloading unit) with an oil production capacity of 70,000 barrels per day, which will be the seventh FPSO developed by TotalEnergies in Angola. The project will include the best available technologies to minimize greenhouse gas emissions and the facilities will be designed for zero flaring, with the associated gas entirely reinjected into the reservoirs.

“TotalEnergies is pleased to welcome Petronas, one of its strategic partners, on Block 20 in the Kwanza basin. With Sonangol and Petronas, we have established a solid partnership that will collectively enable us to take the final investment decision for the development of the Cameia and Golfinho fields, with the support of the Angolan authorities”, said Nicolas Terraz, President, Exploration & Production at TotalEnergies.

About TotalEnergies in Angola
Present in Angola since 1953, TotalEnergies employs 1,500 people in different business segments. With a diversified business portfolio, from deep offshore assets that represents around half of the country’s oil production, service stations in partnership with Sonangol and renewables, TotalEnergies in Angola is a key actor for an equitable energy transition of the country.

About Block 20
Blocks 21/09 and 20/15 were merged into Block 20/11 ("Block 20") by presidential decrees in July 2023.

About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people

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TotalEnergies and Air Liquide have signed an agreement for the long-term supply of green and low carbon hydrogen to the TotalEnergies refining and petrochemical platform in Normandy. The project will contribute to the decarbonization of the Gonfrevillle site, reducing its CO2 emissions by up to 150,000 tons a year. This cooperation between Air Liquide and TotalEnergies is aligned with the two companies’ shared commitment to contributing to decarbonize industrial operations in the Axe Seine corridor.

2023 09 18 112114The project calls for the supply of 10,000 tons of green hydrogen per year to the TotalEnergies platform in Normandy and up to 5,000 tons per year of low carbon hydrogen starting from the second half of 2026. It is comprised of two integrated parts:

  • The production of green and low carbon hydrogen by the Normand’hy electrolyzer, which will be built and operated by Air Liquide, with a total electrical capacity of 200 MW. TotalEnergies will have access to half of this production capacity, corresponding to the amount of hydrogen supplied to its refinery.
  • TotalEnergies will supply around 700 GWh/year of renewable and low carbon power to the Air Liquide electrolyzer for half of its capacity, i.e. 100 MW, corresponding to the share of hydrogen delivered to the TotalEnergies refinery in Normandy.

"This partnership with Air Liquide is a new step in TotalEnergies' ambition to decarbonize the hydrogen used by its refineries in Europe by 2030. By supplying the electrolyzer with renewable electricity from solar and wind projects, TotalEnergies is making the most of its positioning as an integrated power supplier," said Bernard Pinatel, President Refining & Chemicals.

“This Memorandum of Understanding with TotalEnergies illustrates our ability to offer concrete decarbonization solutions to our customers. Air Liquide Normand’Hy will contribute to the decarbonization trajectory of our assets; it is also in line with our commitment to accompany the industry and mobility sectors in their path to reducing their carbon footprint. Our collaboration with TotalEnergies also strengthens hydrogen development in Normandy. Supported by the French State and the European Union, the Air Liquide Normand’Hy project confirms our commitment to develop renewable and low-carbon hydrogen production by electrolysis technology at industrial scale.” said Pascal Vinet, Executive Vice President and a member of Air Liquide’s Executive Committee, supervising notably Europe Industries activities.

About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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TotalEnergies confirms its commitment to the energy transition in Kazakhstan with the signature of a Power Purchase Agreement (PPA) for the Mirny project. This will be the first PPA signed in the country for a wind project of such scale. Located in the Zhambyl region, the project aims to build a 1 GW onshore wind farm combined with a 600 MWh battery energy storage system for a reliable power supply. It represents an investment of about $1.4 billion. After Irak, it is another prime example of TotalEnergies’ ability to leverage its position as a major partner in the upstream sector to speed up the development of renewable energy in oil and gas countries.

The electricity to be produced by the Mirny project will be sold in its entirety to the Financial Settlement Center of Renewable Energy, a public entity owned by the Government of Kazakhstan, for the supply of the national grid. The project will provide electricity to 1 million people.

This agreement has been signed in Astana between Total Eren, an affiliate of TotalEnergies, and the FSC, in the presence of Patrick Pouyanné, Chairman and CEO of TotalEnergies and the Minister of Energy and Mineral Resources of the Republic of Kazakhstan, Almasadam Satkaliyev. TotalEnergies will develop the Mirny project in partnership with the National Wealth Fund Samruk-Kazyna and the National Company KazMunayGas, which will each own a 20% stake in the project.

“This project will contribute to the transition of Kazakhstan to the green energy and will be a breakthrough in strengthening French-Kazakh investment cooperation,” said Almassadam Satkaliyev, Minister of Energy and Mineral Resources of the Republic of Kazakhstan.

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"As a global energy leader, TotalEnergies is proud to drive the energy transition in Kazakhstan through such an innovative project as Mirny. This wind and battery project will contribute to the supply and security of the Kazakh power grid. I would like to express my sincere gratitude to the Kazakh authorities for their support and collaboration throughout this process. This represents a significant milestone in TotalEnergies' multi-energy strategy. TotalEnergies will bring its expertise in managing large-scale projects to make it a success, " said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

A wind project contributing to Kazakhstan’s renewable push

The Mirny project, which will consist of around 200 turbines, is the largest wind energy initiative ever undertaken in Kazakhstan. Supported, by both the Kazakh and French authorities, the project will be a strong contributor to the Kazakh Government's target of achieving 15% of electricity from renewable sources by 2030. It will avoid the emission of approximately 3.5 million tons of CO2 annually over the duration of the PPA signed today.

A successful renewable track-record for Total Eren in Kazakhstan

Total Eren has a proven track record of renewable energy developments in Kazakhstan. In particular, Total Eren successfully developed, financed, built, and commissioned in 2019 two solar photovoltaic farms, M-KAT and Nomad, with a combined capacity of 128 MWp. These solar farms, located in the Zhambyl and Kyzylorda regions respectively, have been instrumental in diversifying Kazakhstan's energy mix and reducing carbon emissions.

 

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TotalEnergies is developing its renewable activities in Poland by acquiring the country’s main biogas producer, Polska Grupa Biogazowa (PGB), and a 200-megawatt (MW) development pipeline of solar projects.

Poland, Europe’s Fourth-Largest Biogas Potential

With 130 employees in nine Polish regions, PGB is mainly involved in generating renewable heat and power from biogas sourced from organic waste. It owns and operates 17 facilities in production and one under construction, for a total power generation capacity of 166 GWh per year1. PGB's portfolio also includes a development pipeline of 23 projects.

PGB's Biogas Unit in PolandPGB's Biogas Unit in Poland

The acquisition of PGB raises TotalEnergies’ biogas production capacity to 1.1 TWh and gives the Company a leading position in the promising Polish market, which represents Europe’s fourth-largest potential for biogas and biomethane production, estimated at close 100 terawatt-hours (TWh).

Poland, a Dynamic Solar Market

TotalEnergies is also entering the Polish solar market with the acquisition of six solar projects under development representing a production capacity of 200 MW. Located in northern and western Poland, the first solar farms are expected to come on stream by 2025.

“These agreements illustrate TotalEnergies' commitment to developing its renewable activities in Poland, and in Europe as a whole, to support the European Green Deal,” said Stéphane Michel, President Gas, Renewables & Power at TotalEnergies. “On the one hand, we are gaining a solid foothold in Poland's biogas market thanks to an existing company’s proven track record, experienced teams, and broad asset base. On the other hand, we are developing our presence in renewable energies with a portfolio of solar projects. With these two transactions, we are pleased to be able support Poland in its ambition to develop renewable energies and strengthen its energy sovereignty. We hope we will also have the opportunity to provide Poland with our expertise in offshore wind, an area in which we have formed a partnership with KGHM."

1 This represents nearly 0.4 TWh in biomethane equivalent (i.e., if the same installations produced biomethane, with the same inputs, and based on 1 MW = 20.5 GWh/year of biomethane equivalent).

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In the context of its future spin-off, TotalEnergies EP Canada Ltd announces that it has exercised its preemption right to acquire an additional 6.65% interest in the Fort Hills Energy Limited Partnership and associated sales and logistics agreements from Teck Resources Limited, for a consideration of 312 million Canadian Dollars.

2023 01 27 094412Fort Hills is located 90 kilometers North of Fort McMurray in the Province of Alberta. Prior to the transaction, TotalEnergies EP Canada held a working interest of 24.58% in the Fort Hills project, and after the transaction it will hold 31.23%. TotalEnergies EP Canada also holds a 50% working interest in the Surmont project located in the region.

In line with its low-carbon strategy, TotalEnergies announced in September 2022 its intention to exit Canadian oil sands by spinning off TotalEnergies EP Canada in 2023. Through the acquisition of an additional interest in Fort Hills, TotalEnergies EP Canada is building the future for the spin-off entity in an asset with long-term growth potential. The spin-off is planned to be submitted to vote at TotalEnergies’ annual Shareholders’ Meeting in May 2023.

“By seizing this opportunity to grow its business under attractive conditions, TotalEnergies EP Canada will deliver value to the future shareholders of the spin-off entity”, said Jean-Pierre Sbraire, CFO of TotalEnergies.

About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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TotalEnergies and SARIA, a leader on the European market for the collection and valorization of organic materials into sustainable products, have concluded an agreement to develop sustainable aviation fuel (SAF) production on the Grandpuits (Seine-et-Marne) zero-crude platform.

This agreement is a major step in securing feedstock supply (used cooking oils and animal fats) eligible to produce SAF and will enable the SAF production capacity to reach 210,000 tons per year, 25% higher than foreseen in the initial project announced in 2020.

Under this agreement, TotalEnergies will take 50% of a production activity of SARIA, that will supply animal fat esters to Grandpuits. SARIA will take an equivalent stake in the biofuels business of the Grandpuits biorefinery, which will remain operated by TotalEnergies. SARIA will also directly supply used cooking oils.

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“I am delighted to conclude this strategic partnership with SARIA, which reinforces the conversion of the Grandpuits refinery into a zero-crude platform oriented towards SAF. This is a major milestone in our ambition to become one of the leaders in sustainable aviation fuels,” declared Bernard Pinatel, President, Refining & Chemicals at TotalEnergies. “SAF is the most efficient solution to immediately reduce CO2 emissions from air travel, and its development is fully in line with the Company’s Climate ambition to get to net zero by 2050, together with society.”

The project is subject to the legal process for notifying and consulting TotalEnergies’ employee representatives and the approval of the competent authorities.

About TotalEnergies in Grandpuits

Commissioned in 1966, Total's Grandpuits-Bailly-Carrois refinery was for a long time the only refinery in the Paris region. In September 2020, TotalEnergies launched a project to convert the site, in line with its strategy to become carbon neutral by 2050. This zero-crude project, with a total investment of more than 500 million euros, is based on the development of several future-oriented activities in the field of biomass, renewable energies, and the circular economy: chemical recycling of plastic waste, production of biosourced and biodegradable bioplastics, production of biofuels for the aviation sector, construction of a solar farm and electricity storage by batteries. The start-up of these new units will begin in 2022, and they should all be operational by 2025.

TotalEnergies and Sustainable Aviation Fuels

TotalEnergies is developing Sustainable Aviation Fuels (SAF). These are biofuels produced from waste and residues from the circular economy (animal fats, used cooking oils, etc.) and "e-jets", synthetic fuels for aviation. These sustainable aviation fuels will significantly reduce CO2 emissions from air transport

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TotalEnergies announces the signature of a commercial agreement between Northern Lights and Yara to transport and store CO2 captured from Yara Sluiskil, an ammonia and fertilizer plant in the Netherlands.

From early 2025, 800,000 tons of CO2 per year will be captured, compressed, and liquefied in the Netherlands and then transported to the Northern Lights site to be permanently stored in geological layers some 2,600 meters under the seabed off the coast of Øygarden, in Norway.

This agreement, the first of its kind worldwide, is a major milestone in the decarbonization of heavy industry in Europe, paving the way for international CO2 transport and storage as a service. It sets a new standard for European industrial companies looking to use Northern Lights solutions as part of their decarbonization strategies.

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"Developing CO2 transportation and storage services is crucial for decarbonizing European industry: we are pleased to welcome Yara as first commercial partner for Northern Lights, which will help support its decarbonization strategy," said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies. " TotalEnergies aims to develop a CO2 storage capacity of more than 10 million tons per year by 2030, both for its own facilities and for its customers, in line with its ambition to get to net zero by 2050, together with society."

"Yara, our first commercial customer, will fill the available capacity of Northern Lights Phase 1. This agreement will establish a market for CO2 transport and storage. From early 2025, we will be shipping the first tons of CO2 from the Netherlands to Norway. This will demonstrate that CCS is a climate tool for Europe," said Børre Jacobsen, Northern Lights Managing Director.

"We urgently need to take action to decarbonize industry, and Yara is a frontrunner in the field. I am very pleased to announce that we are now on our way to removing CO2 emissions from our production plant in Sluiskil. This will take us a step closer to carbon-free food production and accelerate the supply of clean ammonia for fuel and power production," said Svein Tore Holsether, CEO of Yara International.

The Northern Lights Project

As the first project to create a cross-border value chain, Northern Lights is designed to give European industrial companies a solution for safely and permanently storing their CO2 emissions underground. The Phase 1 installations are scheduled to come on stream in 2024, with the ability to handle 1.5 million tons of CO2 per year. Several industries have shown growing interest in these services. As a result, additional capacity will be developed to accommodate rising demand, up to 5 million tons per year. Northern Lights is owned in equal shares by TotalEnergies, Equinor and Shell.

TotalEnergies and Carbon Capture and Storage (CCS)

TotalEnergies’ focus is first to avoid then to reduce its emissions by developing and deploying a systematic approach, asset-by-asset, to implement the best available technologies. In particular, the Company is developing industrial projects for carbon capture, transport, and storage (CCS). Backed by core competencies in large-scale project management, gas processing and geosciences, TotalEnergies is on track to achieve its ambition of developing storage capacity of 10 million metric tons of CO2 per year by 2030 through significant industrial projects such as Northern Lights in Norway and Aramis in the Netherlands. Through all its CCS projects, the Company will reduce its own emissions and those of its customers.

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TotalEnergies and its partner SSE Renewables, have announced the first power generation from the Seagreen offshore wind farm, 27km off the coast of Angus in Scotland.

The first turbine, of a total of 114, was commissioned in the early hours of Monday morning. The aim is for the 1075 MW farm to be fully operational in the first half of 2023. The $4.3bn Seagreen project will be Scotland’s largest offshore wind farm and the world’s deepest fixed bottom wind farm as it is being developed in 59 meters of water depth.

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“We are delighted to announce the start of power generation from Seagreen, our first offshore wind steps in the UK North Sea,” said Vincent Stoquart, Senior Vice President of Renewables at TotalEnergies. “This marks a new step in the development of TotalEnergies’ offshore activities capacity. This milestone will contribute directly to our objective of reaching 35 GW of renewable electricity capacity worldwide by 2025.”

“We often talk about key milestones along a project’s journey, and Seagreen has had a number to date, but to see this turbine turning in the North Sea and to have reached first power safely, is a fantastic achievement for everyone connected to the project. The project has already brought several benefits to the local community, and the UK supply chain and, once completed, Seagreen will make a significant contribution to Scotland and the UK’s ambitious renewable energy targets,” said Paul Cooley, Director of Offshore Wind, SSE Renewables.

TotalEnergies entered into an agreement with SSE Renewables to acquire a 51% stake in the Seagreen project in June 2020. Seagreen has a capacity of 1075 megawatts (MW).

When fully operational, the site will produce around 5 terawatt hours (TWh) of renewable electricity per year, enough to power the equivalent of 1.6 million households.

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