TOTALENERGIES SE: Qatar: TotalEnergies Selected as QatarEnergy's First Partner in the North Field South LNG project
26 Septembre 2022 - 8:00AM
UK Regulatory
TIDMTTE
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):
Following its selection as the first partner for the 32 million
ton per annum (Mtpa) North Field East (NFE) liquefied natural gas
(LNG) project, TotalEnergies has again been selected as the first
international partner in the 16 Mtpa North Field South (NFS) LNG
project. Pursuant to the agreement, TotalEnergies will obtain a
9.375% participating interest in the NFS project -- out of a total
25% interest available for international partners -- while the
national company QatarEnergy will hold the remaining 75%.
Through its combined participating interests in NFE (6.25%) and
NFS, TotalEnergies will add 3.5 Mtpa of LNG production to its
growing worldwide LNG portfolio by 2028, in line with the Company's
objective to increase the share of natural gas in its sales mix to
50% by 2030.
The Second Phase of the World's Largest LNG Project
Together, NFE and NFS form the wider North Field Expansion
project to increase LNG production from the North Field, adding 48
Mtpa to Qatar's export capacity and bringing it to 126 Mtpa by
2028. The upstream part of the project will develop the southern
area of the North Field with five platforms, 50 wells and gas
pipelines to the onshore processing plant. Downstream, there will
be two 8 Mtpa liquefaction trains. NFS will benefit from
significant synergies with NFE, making it one of the most
cost-competitive LNG projects worldwide.
Just like NFE, NFS will apply the highest standards to reduce
its GHG emissions intensity. Native CO(2) from natural gas
production will be captured and sequestered, and the plant will be
connected to Qatar's electrical grid, which will supply it with a
growing portion of renewable electricity -- in line with Qatar's
climate ambitions -- thanks to the 800 MW Al Kharsaah solar power
plant project, in which TotalEnergies is a partner, and
QatarEnergy's new solar power plant currently under construction in
Ras Laffan with TotalEnergies' support.
At the signing ceremony, Patrick Pouyanné, Chairman and Chief
Executive Officer of TotalEnergies, said: "Following North Field
East, we are truly honored and proud that Qatar has once again
chosen TotalEnergies to be QatarEnergy's first partner in North
Field South. The State of Qatar's ambitious leadership in further
developing its natural gas resources through this expansion
project, which ranks among the world's most competitive in terms of
costs and low emissions, will make a major contribution to
increasing LNG supply in the years to come. We consider Qatar as a
long-term strategic country for TotalEnergies and this latest
addition to our portfolio marks an important step toward our
low-carbon LNG growth objectives, a key pillar of TotalEnergies'
transformation into a sustainable multi-energy company. It will
also further strengthen our ability, together with Qatar, to
support Europe's energy security."
In his remarks during the ceremony, His Excellency Mr. Saad
Sherida Al-Kaabi, the Minister of State for Energy Affairs, the
President and CEO of QatarEnergy, said: "QatarEnergy is moving
forward, with the support of our partners, to help meet growing
global demand for cleaner energy, of which LNG is the backbone for
a serious and realistic energy transition. We are committing
significant investments to lower the carbon intensity of our energy
products, which constitutes a key pillar of QatarEnergy's
sustainability and energy transition strategy. I am pleased to
welcome TotalEnergies yet again to our flagship LNG projects. I
would like to thank Mr. Patrick Pouyanné, Chairman of the Board and
CEO of TotalEnergies for his leadership and continued efforts to
further strengthen our long-term partnership."
TotalEnergies, The World's Third-Largest Low-Carbon LNG
Company
TotalEnergies is the world's third-largest low-carbon LNG
company, with a global market share of around 10% and a global
portfolio of nearly 50 Mt/y by 2025 thanks to its interests in
liquefaction plants in all geographies. The Company benefits from
an integrated position across the LNG value chain, including
production, transportation, trading, and LNG bunkering.
TotalEnergies ambition is to increase the share of natural gas in
its sales mix to 50% by 2030, reduce the gas value chain's carbon
emissions, eliminate methane emissions, and work with local
partners to promote the transition from coal to natural gas.
***
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
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.
Twitter: @TotalEnergies LinkedIn: TotalEnergies Facebook:
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Cautionary Note
The terms "TotalEnergies", "TotalEnergies company" or "Company"
in this document are used to designate TotalEnergies SE and the
consolidated entities that are directly or indirectly controlled by
TotalEnergies SE. Likewise, the words "we", "us" and "our" may also
be used to refer to these entities or to their employees. The
entities in which TotalEnergies SE directly or indirectly owns a
shareholding are separate legal entities. This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies' financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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SOURCE: TotalEnergies SE
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