Totalenergies Share Discussion Threads

[grupo] 05/7/2023 07:41

TotalEnergies takes over five PV park projects in Romania with 200MWp total
installed capacity

05 July 2023

Iulian Ernst


French oil group TotalEnergies acquired a portfolio of five solar projects in northwestern Romania from German company PNE.

With a total capacity of over 200 MW, these projects will contribute to the supply of renewable energy to cover the country's needs.

The commissioning of the five solar parks taken over now will allow TotalEnergies to provide B2B customers in Romania with locally produced green electricity through power purchase agreements (PPAs) starting in 2025, Profit.ro reported.

In order to preserve the agricultural utility of the land, TotalEnergies will organize, on the 200 hectares of land where the solar panels are located, agricultural pastures to support the activity of sheep farmers in northwestern Romania, near the border with Hungary.


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(Photo source: Deyangeorgiev/Dreamstime.com)

[waldron] 03/7/2023 05:09

FRANCE24

TotalEnergies was third largest player in Russian LNG sales last year, says NGO

Energy giants TotalEnergies and Shell on Sunday defended activities linked to Russia after a critical report into their trading in natural gas despite the war in Ukraine.

Issued on: 02/07/2023 - 18:37



The campaign group Global Witness said TotalEnergies was the third-biggest player in Russian liquified natural gas (LNG) last year and Shell the fourth, behind two Russian companies.

The report focussed on Britain's Shell, after Global Witness said it had looked previously at TotalEnergies of France.

"Russia's LNG exports are helping to finance the country's war in Ukraine and in 2022 were worth an estimated $21 billion," it said.

"Few companies have helped this trade more than Shell, and Global Witness estimates that Shell has made hundreds of millions trading Russian LNG last year.

"Yet despite the war crimes this trade helps finance, it is legal. Shell, the UK, and the EU should immediately halt it."

Both companies said they were tied to ongoing contracts despite pulling out of Russian partnerships after Ukraine was invaded last year.


"Shell has stopped buying Russian LNG on the spot market, but still has some long-term contractual commitments," a Shell spokesperson said, insisting that all laws and sanction restrictions were being respected.

"There is a dilemma between putting pressure on the Russian government over its atrocities in Ukraine and ensuring stable, secure energy supplies," it said.

"It is for governments to decide on the incredibly difficult trade-offs that must be made."

In Paris, TotalEnergies emphasised "its duty to contribute to the security of Europe's gas supply from the Yamal LNG plant [in Siberia] under long-term contracts that it must honour as long as European governments do not impose sanctions against Russian gas".

(AFP)

[florenceorbis] 20/6/2023 21:23

TotalEnergies Investing In Multiple SAF Projects
by Paul Anderson
|
Rigzone Staff
|
Tuesday, June 20, 2023



TotalEnergies has set the wheels in motion to increase its sustainable aviation fuel (SAF) production, with over €740 million ($808 million) of investment in multiple projects. The move comes as a response to calls from its aviation customers.

From 2028, the company said it will be in a position to produce half a million tons of SAF, adding that this would be enough to cover the gradual increase in the European SAF blending mandate, set at six percent for 2030.

The company said in its statement that it will invest €400 million to convert the Grandpuits site into a zero-crude platform, primarily focused on producing SAF from circular feedstock such as animal fat and used cooking oil. Grandpuits will be able to produce 210,000 tons/y of SAF as of 2025, and a new investment has been announced to produce a further 75,000 tons/y by 2027.

Earlier in June, TotalEnergies said it will be doubling SAF production at Grandpuits, bringing the site’s annual production capacity to 285,000 tons, i.e. almost double the capacity announced in 2020.

In Normandy, TotalEnergies said it has started co-processing SAF from used cooking oil at its Gonfreville refinery. The company plans to increase annual production at the site to 40,000 tons from 2025. In addition, following technical work carried out with its aeronautical partners, TotalEnergies will produce an additional 150,000 tons/y of SAF by co-processing HVO biodiesel produced at La Mède as soon as this production method is approved by the ASTM.

At La Mède, TotalEnergies said it has invested €340 million to convert its refinery into a biorefinery. Biodiesel produced at La Mède is already being used to make SAF at the TotalEnergies Oudalle plant near Le Havre. TotalEnergies added it is studying a new investment to have the capacity to process at La Mède, by 2024, 100 percent waste from the circular economy (used cooking oil and animal fat) to produce biofuels and SAF by co-processing.

Beyond France, TotalEnergies aims to produce 1.5 million tons/y of SAF by 2030 at production units in Europe, the United States, Japan and South Korea, representing 10 percent of the world market by that date, the company’s statement reads.

"TotalEnergies is taking action to meet the strong demand from the aviation industry to reduce its carbon footprint. Sustainable aviation fuel is essential to reducing the CO2 emissions of air transport, and its development is fully aligned with the Company's climate ambition to get to net zero by 2050, together with society," said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.

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[gibbs1] 16/6/2023 19:12

Latest Dividends

Summary Previous dividend Next dividend

Status Paid Declared

Type Quarterly Quarterly

Per share 69¢ 74¢
Declaration date – 08 Feb 2021 (Mon)

Ex-div date 22 Mar 2023 (Wed) 21 Jun 2023 (Wed)

Pay date 03 Apr 2023 (Mon) 03 Jul 2023 (Mon)

[la forge] 04/6/2023 06:44

In accordance with its policy in favour of employee shareholding, the Board of Directors of TotalEnergies SE (Paris:TTE) (LSE:TTE) (NYSE:TTE) decided, on September 22, 2022, to carry out a capital increase reserved for eligible employees and former employees of TotalEnergies SE and its French and foreign subsidiaries in which the Company holds directly or indirectly more than 50% (in terms of capital or voting rights), that are members of the PEG-A Group savings plan, in France and abroad, under the conditions set by the twenty-second resolution at the Shareholders' Meeting of May 25, 2022.



On April 26, 2023, the Chairman and CEO set (i) the subscription period from April 28 to May 15, 2023 (included) and (ii) the subscription price at 45.60 euros per share, corresponding to the average of the closing prices of the TotalEnergies share on Euronext over the twenty trading sessions preceding the date of this decision, reduced by a 20% discount and rounded off to the highest tenth of a euro.



At the end of this period, 52,602 employees in 94 countries, representing 45.8 % of the eligible employees and former employees, subscribed to this capital increase for an amount of



353.9 million euros. These results are on the rise compared to the last two years in terms of participation rate and amount subscribed.



"The development of employee share ownership is at the heart of TotalEnergies' value share policy as it represents the best way to closely associate employees with its economic performance, strengthen their sense of belonging and align the interests of employees and shareholders. Once again this year, TotalEnergies' employees have confirmed their attachment to the Company and fully supported the strategy of transforming TotalEnergies into a multi-energy company, by subscribing largely to the capital increase reserved for them.", declared Patrick Pouyanné, Chairman and CEO of TotalEnergies.



As a result, 8,002,155 new shares will be issued on June 7, 2023. They will carry immediate dividend rights and will be fully assimilated with TotalEnergies shares already listed on Euronext.



Following this issuance, the employee shareholders in TotalEnergies SE's share capital, within the meaning of Article L. 225-102 of the French Commercial Code, will represent 7.67% of the Company's share capital as of June 7, 2023.

[florenceorbis] 02/6/2023 07:12

TotalEnergies signs production sharing contract for Agua Marinha offshore block

Oil & GasUpstreamOffshore

By NS Energy Staff Writer 01 Jun 2023

Agua Marinha is a 1,300 sq.km exploration block located in the pre-salt Campos Basin south of the Marlim Sul field and about 140 km from shore
oil-rig-g37beeeaf9_640

TotalEnergies signs production sharing contract for Agua Marinha offshore block. (Credit: Keri Jackson from Pixabay)

TotalEnergies and its co-venturers Petrobras, QatarEnergy and PETRONAS Petróleo Brasil Ltda (PPBL) have signed on 31 May 2023 the Production Sharing Contract (PSC) for the Agua Marinha block, which was awarded in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP) in December 2022.

Agua Marinha is a 1,300 sq.km exploration block located in the pre-salt Campos Basin south of the Marlim Sul field and about 140 km from shore. The work program includes drilling one firm exploration well during the exploration period.

“The signature of the PSC for Agua Marinha expands our presence in this promising area of the pre-salt Campos Basin, alongside our three strategic partners, and we are looking forward looking to exploring the block and drilling the Touro prospect” said Kevin McLachlan, Senior Vice President, Exploration of TotalEnergies. “Offshore Brazil, with its material low-cost, low-emission resources is a core area for the Company. This block, along with the two South Santos basin concessions obtained in 2022, further reinforces our exploration portfolio in this high potential area.”

TotalEnergies will participate in the block with a 30% interest, alongside operator Petrobras (30%), QatarEnergy (20%) and PPBL (20%).

Source: Company Press Release

[gibbs1] 31/5/2023 08:07

France opens its first electric car battery factory


Europe is racing to step up its production of batteries and electric vehicles as the European Union has set a 2035 deadline to phase out the sale of new fossil fuel cars.


By Caroline Nelly PERROT
05/31/23 AT 1:52 AM BST

French FM Bruno Le Maire said Europe must 'flex its muscles' in the industrial sector AFP News

France launched its first factory for electric vehicle batteries on Tuesday, taking a big step in its race to build up a sector dominated by China.

The plant in Billy-Berclau is the first in a clutch of factories that are due to open over the next three years in a northern corridor billed as a "Battery Valley" for the rapidly growing industry.

The "gigafactory" is owned by Automotive Cells Company, a partnership between French energy giant TotalEnergies, Germany's Mercedes-Benz and US-European automaker Stellantis, which produces a range of brands including Peugeot, Fiat and Chrysler.

French Economy Minister Bruno Le Maire, who attended the opening ceremony, likened the factory to the creation of Airbus, which turned Europe into a powerhouse in the aircraft manufacturing sector.

"The European Union must flex its muscles" in terms of industry as "China will give no quarter", he said.

German Transport Minister Volker Wissing said the facility, along with two other ACC factories due to open in his country and Italy, will ensure that "Europe remains at the forefront of global progress tomorrow".


Building up the battery industry is at the heart of President Emmanuel Macron's "reindustrialisation" plan for France.

The ACC factory is the length of six football pitches. Production is due to begin this summer.

Europe is racing to step up its production of batteries and electric vehicles as the European Union has set a 2035 deadline to phase out the sale of new fossil fuel cars.

Around 50 battery factory projects have been announced in the EU in recent years as the bloc scrambles to meet its goal of becoming climate neutral by 2050.

The ACC factory is the first of four due to open in the burgeoning "Battery Valley" in the Hauts-de-France region.

Sino-Japanese group AESC-Envision is building a plant near the city of Douai which will supply French automaker Renault from early 2025.

French startup Verkor is scheduled to begin production at a facility in Dunkirk from mid-2025.

Taiwan's ProLogium has also chosen the coastal city for its first overseas factory, with output to start in 2026.

The French government has set a target of producing two million electric vehicles per year by 2030.

The ACC plant is expected to supply 500,000 vehicles per year by then.

France hopes to produce enough batteries for its car industry by 2027 and later become an exporter.


But it faces higher energy costs than China or the United States.

China is the world leader in electric car battery production and also dominates the production of the raw materials needed to make them.

Europe also faces stiff competition from the United States, which is heavily subsidising the sector through the Inflation Reduction Act, which includes $370 billion in clean energy incentives.

Out of the seven billion euros ($7.5 billion) invested for the ACC project, 1.2 billion euros came from public funds.

While Battery Valley is expected to recruit more than 20,000 people in the next few years, French unions worry about the electric vehicle industry's impact on jobs.

Some 100 people staged a protest on Tuesday against the planned closure of a Stellantis site in Douvrin.

[ariane] 31/5/2023 06:51

News

May 31, 2023

French oil giant TotalEnergies sells entire climate tech portfolio

The move goes against the trend of rising appetite from oil and gas companies in backing climate tech startups.

Freya Pratty

2 min read

French oil and gas giant TotalEnergies has closed its CVC arm, TotalEnergies Ventures, and sold its portfolio of climate tech startups to Paris-based VC firm Aster.

Founded in 2008, TotalEnergies Ventures invested in climate tech companies in Europe, Africa and the US. The CVC decided to stop activities around the start of last year, Aster managing partner Jean-Marc Bally tells Sifted, and then underwent a bidding process to sell off its portfolio as secondaries.

The move goes against the trend of rising appetite from oil and gas companies in backing climate tech startups. Data from Dealroom suggests that the six largest fossil fuel companies in the world, which includes TotalEnergies, participated in venture deals worth a record $1.3bn in 2022 — up from $746m five years prior.

Aster, a VC firm which has invested in around 100 companies since it launched in 2000, will take on TotalEnergies’ entire portfolio of 18 companies, Bally said. Aster’s existing portfolio includes solar power provider Zola and US SaaS unicorn Docker.

TotalEnergies Ventures portfolio includes companies like smart meter company Tado, hydrogen startup Sunfire and EV subscription service Onto. It launched a $400m fund in 2019, designed to be deployed across five years.

In March last year — around the time when the bidding process for the portfolio began — TotalEnergies launched “TotalEnergies On”, an accelerator program for clean energy companies. It said at the time that some of the team from the CVC would now work on the accelerator instead.

Bally tells Sifted he cannot comment on the reason behind TotalEnergies’ decision to close its CVC arm. “The lifetime of CVC is always limited,” he says. “It’s part of the evolving strategy of corporations.”

There are other examples of companies selling off their CVC portfolios. For example, General Electric sold off its startup portfolio, GE Ventures, in 2019 at a time when GE’s stock had fallen. The same dynamic doesn't seem to be at play at TotalEnergies, which saw record profits in 2022.

Sifted Newsletters

[ariane] 30/5/2023 07:09

TotalEnergies Receives 20-Year License Renewal for Nigerian Block
by Jov Onsat
|
Rigzone Staff
|
Tuesday, May 30, 2023


TotalEnergies SE said Monday it has secured a 20-year extension for the production license for the Oil Mining License (OML) 130 block offshore Nigeria, following the settlement of a payment row with partners.

With an average production of 282,000 oil-equivalent barrels a day last year, the Niger Delta project is seen by the French global energy giant as a contributor to energy security not only in Africa’s biggest economy but also in Europe. Nearly 30 percent of last year’s output “was gas sent to the Nigeria LNG plant, notably contributing to Europe’s energy security”, TotalEnergies said in a press release announcing the renewal.

The extension allows TotalEnergies, which operates the block with a 24 percent stake, and its partners to proceed with pre-development studies on a new discovery that would add to the Akpo and Egina fields, put into production 2009 and 2018 respectively.

“This 20-year extension will enable us to move forward with the FEED [front-end engineering design] studies on the Preowei tie-back project which aims to valorize a discovery using existing facilities in line with Company’s strategy focusing on low-cost and low-emission assets”, Henri-Max Ndong-Nzue, TotalEnergies senior vice-president of exploration and production for Africa, said in the announcement.

The announcement follows the signing of agreements by TotalEnergies’ upstream unit in Nigeria, the Nigerian National Petroleum Co. Ltd. (NNPC) and their partners securing the continued development of the OML130 block.

“The suite [of deals] included Production Sharing Contracts, Heads of Agreement (HoA) Amendment, Settlement Repayment Agreement, Concession Contracts for 1 PPL [petroleum prospecting license] and 3 PMLs [petroleum mining leases], and Lease & License Instruments”, the state-controlled NNPC announced on Twitter on Thursday, not elaborating on the agreements.

The other partners in the project are China’s state-owned CNOOC Ltd. with a 45 percent interest, local private company South Atlantic Petroleum Ltd. (15 percent) and Netherlands-based Prime Oil & Gas Coöperatief UA (16 percent). Canada’s Africa Oil Corp. holds half of Prime’s stake in OML130 as Prime’s 50 percent owner.

Industry Reform

The new license operates under the terms of the new Petroleum Industry Act (PIA), making the three fields “the first assets to effectively benefit from the PIA fiscal terms”, noted Africa Oil in a separate media statement.

“The renewal of OML 130 is very good news for the Company and its shareholders”, Africa Oil president and chief executive Keith Hill said in the statement. “This license is the core of our Nigerian investment and accounts for most of Prime's production and cashflows.

“It also includes attractive growth opportunities such as the undeveloped Preowei oil discovery, which we can now take forward towards a final investment decision”.

Passed 2021 to replace the Petroleum Act, the new law provides for infrastructure funding support, investment promotion and a simplified hydrocarbon tax. The Midstream and Downstream Gas Infrastructure Fund aims to grow the domestic market for natural gas produced from privately funded projects, as well as enables risk-sharing to encourage private investment. Meanwhile fossil fuel tax collection has been limited to “crude oil as well as field condensates and liquid natural gas liquids derived from associated gas and produced in the field upstream of the measurement points”, as stated in the text of the legislation.

However the Nigerian Content Development and Monitoring Board (NCDMB) has said oil development continues to face regulatory hurdles in addition to financial and security challenges. At the Nigerian Oil and Gas Opportunity Fair held earlier May, NCDMB Executive Secretary Simbi Kesiye Wabote called for the elimination of “policy inconsistencies̶1; and urged the government to pass supplementary laws to the PIA “to give investors the necessary confidence to move ahead”, as stated in an NCDMB statement.

At the gathering over $50 billion worth of oil development projects were presented for potential launch in the next five years, according to the NCDMB statement.

Oil is a key contributor to Nigeria’s economy. Petroleum and natural gas comprised 6.21 percent of the nation’s gross domestic product in the first quarter, making this sector the fourth-largest component of the economy behind crop production, trade, and telecommunication and information services, the National Bureau of Statistics reported May 24.

To contact the author, email [e-mail]

[ariane] 30/5/2023 06:39

TotalEnergies to sell Surmont oil sands stake to ConocoPhillips in $3.3bn deal


By NS Energy Staff Writer 29 May 2023

The deal is a result of ConocoPhillips exercising its preemption right to buy the remaining 50% stake in the Surmont oil sands project and after its closing, the company will have full-ownership of the asset located in Athabasca region of northeastern Alberta



TotalEnergies said that it will sell its stake of 50% in the producing Surmont oil sands asset in Canada to its partner ConocoPhillips in a deal worth up to C$4.44bn ($3.32bn).

The consideration is made up of a cash payment of C$4.03bn ($3bn) upon closing of the deal. It also includes additional payments of up to C$440m ($325m) under certain conditions for the non-operated stake in the asset and related logistics commitments.

The deal is a result of ConocoPhillips exercising its preemption right to buy the remaining 50% stake in the Surmont oil sands project. After the closing of the deal, ConocoPhillips will have full ownership of the asset located in the Athabasca region of northeastern Alberta.

It follows the signing of the C$5.5bn ($4.05bn) deal between Suncor Energy and TotalEnergies in April 2023, under which the former would acquire TotalEnergies EP Canada.

If closed, the deal will give Suncor Energy the remaining 31.23% stake it did not own previously in the Fort Hills oil sands mining project and a 50% interest in the Surmont in situ asset held by TotalEnergies EP Canada (TEPCA).

TotalEnergies stated: “As previously announced, the transaction with Suncor is subject to the waiver of its partner ConocoPhillips pre-emptive right.

“As ConocoPhillips has exercised its preemption right, TotalEnergies will be open to complete a transaction with Suncor regarding the sale of TEPCA’s shares, comprising the Fort Hills working interest, as per the agreed value in the initial SPA.”

The Surmont oil sands asset began production in 2007. In 2021, its net production reached 69 million barrels of oil equivalent per day (MBOED).

ConocoPhillips chairman and CEO Ryan Lance said: “Long-life, low sustaining capital assets like Surmont play an important role in our deep, durable and diverse low cost of supply portfolio. Upon close, we look forward to leveraging our position as 100% owner and operator of Surmont to further optimise the asset while progressing toward our overall interim and long-term emissions intensity objectives.

“We will remain on track to achieve our previously announced accelerated GHG intensity reduction target of 50-60% by 2030, using a 2016 baseline.”

The closing of the transaction, which is expected to occur in the latter half of this year, is contingent on the receipt of regulatory approvals and other customary conditions.

[misca2] 28/5/2023 06:39

Could fall to 51 euros, the lowest support

[misca2] 28/5/2023 06:31

KUWAIT TIMES


TotalEnergies shareholders back climate strategy despite protests

AFP

PARIS: TotalEnergies shareholders have backed the French oil giant’s climate strategy as it faces pressure from both environment activists and the government to speed up its switch to renewable energy.

Protesters tried to prevent investors from attending the group’s annual general assembly in Paris, but police early in the morning used tear gas to disperse those who had managed to sit in front of the concert hall where it was being held.

The demonstration was one of the latest in a series of tumultuous shareholder meetings at major corporations in Europe as activists step up pressure on companies to reduce their carbon footprints.

After three hours of debate, TotalEnergies investors attending the gathering online or in person backed the group’s climate strategy with more than 88 percent of votes.


Nearly a third of shareholders supported a motion from a minority of investors for the oil giant to reduce its greenhouse gas emissions to help meet the 2015 Paris accord’s goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels.

That motion was put forward by Follow This, a group of 17 investors who together hold almost 1.5 percent of shares, but had been rejected by the oil giant.

Follow This representative Tarek Bouhouch had urged investors to support the motion to avoid “a climate collapse”. TotalEnergies chief executive Patrick Pouyanne earlier defended the company’s climate strategy in front of a few hundred people in the French capital’s Salle Pleyel. “The climate is at the heart of our concerns,” he said. He said his group has done more than others to invest in renewables. But world oil demand is growing and “if TotalEnergies doesn’t respond to this demand, others will do it for us”, he said.



‘Go faster’

Despite police blocking off the road outside the venue, a couple of hundred protesters had remained outside the concert hall as the meeting kicked off. “All we want is to knock down Total,” protesters chanted. In reference to rising global temperatures, they also bellowed: “One, two and three degrees, we have Total to thank”. Some poured a black liquid over their heads.

The company wanted to avoid the chaos of last year when activists prevented some shareholders from attending the annual meeting. This year, the firm placed two-meter high plexiglass screens to separate off speakers on stage from members of the public at the concert hall. It also forbade attendees and journalists from using their smartphones inside the venue. Climate campaigners are growing impatient with oil majors and other companies over their impact on the planet. Energy giants posted record profits last year as Russia’s war in Ukraine sent oil and gas prices soaring.

In Switzerland on Friday, shareholders of Swiss commodities giant Glencore sought to hold the company accountable over its coal strategy. During the annual shareholders’ meeting of British group Shell on Tuesday, activists sang “Go to hell Shell!” TotalEnergies plans to allocate a third of its investments in low-carbon sources of energy and reach 100 gigawatts of renewable electricity capacity by 2030. But France’s energy transition minister, Agnes Pannier-Runacher, urged the company to speed things up on Friday. “Total invests in renewable energies, but the challenge is to go faster, stronger and above all faster,” she told FranceInfo radio.



‘The worst’

Marie Cohuet, spokeswoman for climate campaigners Alternatiba, said TotalEnergies “embodies the worst of what is done in terms of the exploitation of people and the planet”. One shareholder, who gave his name as Jean-Paul, defended himself as he made his way in to the Paris meeting. “We are all concerned by climate issues, but there are also economic aspects, employment,” he said.

TotalEnergies operations include liquefied natural gas and oil projects in the United Arab Emirates, Iraq, Papua New Guinea and Uganda, where it has come under fire for a pipeline project activists say threatens a fragile ecosystem and livelihoods. The French giant has also sparked controversy over posting a record net profit of $20.5 billion for last year, how much taxes it pays in France, and how much it pays Pouyanne. A 10-percent hike to his salary was approved at Friday’s meeting. — AFP

[grupo guitarlumber] 27/5/2023 12:30

June/21/23 Final ex dividend

paid 3rd July

[ariane] 25/5/2023 07:32

TotalEnergies invests in Ductor to develop biogas projects


TotalEnergies SE (EPA:TTE) announced on Wednesday an investment in Finnish biotechnology start-up Ductor along with a partnership between the two that will focus on the development of biogas and organic fertiliser projects across the US and Europe.

The French energy major said it has acquired a 20% stake in Ductor, which has developed a technology that turns high-nitrogen feedstocks and organic waste from the agricultural sector into biogas and fertilisers. The Finnish start-up currently has two plants in Mexico and Germany, as well as various projects in the pipeline.

The two companies will set up a joint venture to develop and invest in 15 to 20 anaerobic digestion facilities that will produce renewable natural gas (RNG), also known as biomethane, and organic fertilisers, utlising Ductor’s proprietary circular biotechnology.

The Finnish firm will be in charge of identifying and realising opportunities with development, construction and operational support from TotalEnergies, and will also market the speciality fertilisers produced at the plants. TotalEnergies, in turn, will off-taker all of the produced biomethane.

“By accelerating the biogas chain, this technology contributes directly to the energy transition and to TotalEnergies' ambition of producing 20 TWh of biogas worldwide by 2030," said Olivier Guerrini, vice president for biogas at TotalEnergies.

The French group is already active in the European biogas market, having a production capacity of 1.1 TWh.

“The partnership with TotalEnergies will allow us to move forward faster and rapidly develop our project portfolio,” Ductor's CEO Bernard Fenner noted.

newsletter by Renewables Now.

[waldron] 23/5/2023 10:58

Upcoming events on TOTALENERGIES SE



May/26/23 Annual General Meeting