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TTE TotalEnergies SE

65.70
0.53 (0.81%)
23 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
TotalEnergies SE EU:TTE Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.53 0.81% 65.70 65.66 65.81 66.04 65.16 65.21 2,051,948 16:40:00

TotalEnergies, Sonatrach Agree to Strengthen Gas Cooperation, Develop Renewable Projects

10/07/2023 7:58am

Dow Jones News


TotalEnergies (EU:TTE)
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From May 2023 to May 2024

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   By Giulia Petroni 
 

TotalEnergies has signed several agreements with Algeria's state-owned oil company Sonatrach to increase the production and delivery of gas as well as develop renewables projects in the country.

The French major said Monday that the companies aim to increase the gas production of two fields they control in southern Algeria by upgrading the existing facilities and drilling additional wells. The combined production of the so-called TFTII and TFT sud fields is expected to exceed 100,000 barrels of oil equivalent a day by 2026 compared with around 60,000 boe a day in 2022.

The partners have also agreed on additional deliveries by Sonatrach of 2 million tons a year of liquefied natural gas to TotalEnergies at the port of Fos-Cavaou in France for 2024.

TotalEnergies said the companies will also collaborate to develop some renewables projects, including one to solarize exploration and production sites for oil and gas.

Financial details weren't released.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

July 10, 2023 02:43 ET (06:43 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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