United States and GermanyIntegrated Power & Renewables
Implementation of our strategy of capital recycling
In order to optimize our capital allocation in renewables and to improve the profitability of our Integrated Power business, TotalEnergies has signed an agreement with Partners Group, one of the largest firms in the global private markets industry, for the acquisition of VSB Group, a Germany based renewable energy project developer. On another side, in line with its Integrated Power business model, TotalEnergies has signed an agreement with funds managed by Apollo for the sale of 50% of a portfolio of 2 GW solar and battery energy storage systems (BESS) projects located in Texas.
BrazilOil
Start-up of production at the Mero 3 field
Production has begun in the third development phase of the Mero field in the Libra block, 180 kilometers off the coast of Rio de Janeiro. Launched in August 2020, the Mero 3 project consists of fifteen wells connected to a floating production, storage and offloading (FPSO) unit with production capacity of 180,000 barrels of oil per day (b/d). An additional development phase, Mero 4, with capacity of 180,000 b/d, is now under construction and due to come onstream in 2025. At full capacity, TotalEnergies’ share of production at Mero is expected to surpass 100,000 b/d.
© TotalEnergies
NetherlandsWind
Acquisition of a stake in an offshore wind farm to supply green hydrogen to our European refineries and reduce their emissions
TotalEnergies has signed an agreement with RWE to acquire 50% of OranjeWind, a 795 MW offshore wind farm. Our share of the electricity production from the project will be used to power electrolyzers producing 40,000 tons of green hydrogen annually. By replacing the hydrogen currently consumed in TotalEnergies’ refineries, this production will prevent the emission of approximately 400,000 tons of CO2 per year. It’s yet another step toward achieving the Company’s objective of reducing our net greenhouse gas emissions directly tied to our oil and gas operations (Scopes 1+2) by 40% from 2015 levels by 2030.
WorldLNG
Signing of long-term sale and purchase agreements
In line with its growth strategy for LNG, TotalEnergies has signed long-term sale and purchase agreements:
- In Turkey, to deliver 1.1 million tons of LNG a year to BOTAŞ over ten years.
- In China, with Sinopec, to deliver 2 million tons of LNG annually for fifteen years starting in 2028, and with CNOOC, to deliver 1.25 million tons a year until 2034.
- In South Korea, with an agreement to sell 200,000 tons of LNG per year to HD Hyundai Chemical until 2033.
These agreements, primarily in the growing Asian market, will help to secure long-term sales and reduce our exposure to natural gas prices in the spot market.
NorwayCarbon capture and storage
The Northern Lights installations are ready to receive CO2
TotalEnergies, Equinor and Shell have announced the completion of the Northern Lights CO2 receiving and storage facilities, which next year will begin receiving the first volumes emitted by industrial customers in hard-to-abate sectors. Northern Lights is the world’s first commercial CO2 transportation and storage project. In its initial phase, it aims to store 1.5 million tons of CO2 per year, with plans already in place to expand capacity to more than 5 million tons of CO2 annually. The project will make a sizable contribution to decarbonizing European industry.
© TotalEnergies
You can find all our press releases at totalenergies.com under News.