The Shareholders' Newsletter #74 Summer 2024

Latest news

Angola Oil

The Kaminho project gets underway

In partnership with Petronas (40%) and Sonangol (20%), TotalEnergies has announced the Final Investment Decision for the Kaminho project. The project will develop two deepwater fields, using an FPSO unit (Floating Production, Storage and Offloading), designed to minimize greenhouse gas emissions and eliminate routine flaring: the unit will be all-electric and the gas associated with the oil extraction will be fully reinjected into the reservoir. The Kaminho project will create local jobs (10 million man-hours) and production will begin in 2028.

© TotalEnergies

FranceElectricity

TotalEnergies exceeds 2 GW of renewable electricity capacity in France

The Company wields a diversified portfolio of more than 660 wind, solar, hydro and battery storage facilities. Those facilities generate enough green power for nearly 1.8 million French households to prevent the annual emission of 800,000 tons of CO2.

TotalEnergies has invested nearly €400 million in renewables in France since 2013 and is aiming to reach 10 GW of installed capacity by 2025. The Company is developing integrated projects that respect the environment and communities, in collaboration with neighboring stakeholders, farmers, industrial clients and local government.

© Laurent PASCAL - CAPA Pictures - TotalEnergies

ChinaMulti-energies

TotalEnergies and Sinopec strengthen their cooperation

TotalEnergies and Sinopec have signed a strategic cooperation agreement aimed at expanding the existing partnerships between the two companies and deepening their collaboration in low-carbon energy. The two companies plan to combine their R&D expertise to develop projects in biofuels, green hydrogen, CCUS and decarbonization. The agreement comes in the wake of a recently announced partnership to develop a 230,000 tpa sustainable aviation fuel (SAF) production unit at a Sinopec refinery in China.

OmanNatural Gas and Solar

TotalEnergies launches the Marsa LNG project

TotalEnergies and OQ, the Oman National Oil Company, announced the Final Investment Decision for this integrated project that includes natural gas production, liquefaction and export. The two partners plan to jointly develop a 800 MW portfolio of renewable energy projects, including a 300 MWp solar energy project that will power the Marsa LNG plant. The entire plant will be powered with electricity and supplied with solar power, placing it among the LNG plants with the lowest GHG emissions intensity worldwide, below 3 kilograms of CO2e/boe*. The LNG production is expected to start in the first quarter of 2028 and will primarily be intended to serve the marine fuel market (LNG bunkering) in the Gulf. 

© TotalEnergies

United States Biomass

Developing renewable natural gas in the United States

TotalEnergies and Vanguard Renewables, a BlackRock subsidiary, will create a joint venture to produce renewable natural gas from organic waste at US farming operations. They plan to launch ten projects in the coming months with a combined capacity of 0.8 TWh as part of a pipeline of about sixty additional projects over time, for a total capacity of 5 TWh per year. The partnership is aligned with TotalEnergies’ strategy of producing 10 TWh of renewable natural gas by 2030 and providing a decarbonization solution to industrial firms.

You can find all our press releases on our Media page at totalenergies.com