Russia: TotalEnergies Partners with Novatek on LNG Decarbonization, Hydrogen and Renewables
June 03 2021 - 9:58AM
Dow Jones News
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TOT) and Novatek have
signed a Memorandum of Understanding (MoU) to jointly work on
sustainable reductions of the CO emission resulting from the
production of liquefied natural gas (LNG) including with the use of
renewable power, to develop large-scale carbon capture and storage
solutions (CCS) and to explore new opportunities for developing
decarbonized hydrogen and ammonia. This partnership will leverage
the significant low-cost resources of the Yamal and Gydan
peninsulas and their large potential for geological storage.
Each partner will bring its best-in-class technologies and
combine its know-how to explore and develop projects that will help
reduce the carbon footprint of the LNG value chain, using:
-- carbon capture and storage (CCS),
-- energy efficiency,
-- renewable sources of power,
-- marketing of carbon-neutral LNG,
-- and clean hydrogen & ammonia.
"We are very pleased to begin a new chapter in our cooperation
with our long-standing strategic partner Novatek. Our two companies
are joining forces to deliver sustainable solutions to reduce
emissions from our LNG projects and to provide low carbon LNG to
our customers," said Patrick Pouyanné, Chairman and CEO of
TotalEnergies, on the occasion of his visit to the Saint Petersburg
International Economic Forum. "In line with our transformation
strategy and our ambition to be a major player in the energy
transition, we want to be a leader in low-carbon LNG."
TotalEnergies is a 19.4% shareholder in Novatek and holds a 20%
stake in Yamal LNG, a project that started up in December 2017 and
produced more than 18.8 million tons of LNG in 2020. The company
also holds a 10% stake in Arctic LNG 2, a project currently under
construction and on track to deliver its first LNG cargo in
2023.
TotalEnergies, Second Largest Global LNG Player
TotalEnergies is the world's second largest publicly traded LNG
player, with a global portfolio of nearly 50 Mt/y by 2025 and a
global market share of around 10%. Thanks to its interests in
liquefaction plants in Angola, Australia, Egypt, the United Arab
Emirates, the United States, Nigeria, Norway, Oman, Russia and
Qatar, the company markets LNG on all world markets. TotalEnergies
also benefits from strong and diversified positions throughout the
LNG value chain, including gas production, LNG transportation, LNG
trading, and some recent development in the LNG industry for
maritime transport.
____
About TotalEnergies
TotalEnergies is a broad energy company that produces and
markets energies on a global scale: oil and biofuels, natural gas
and green gases, renewables and electricity. Our 105,000 employees
are committed to energy that is ever more affordable, clean,
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.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TotalEnergies SE directly or indirectly owns investments are
separate legal entities. TotalEnergies SE has no liability for
their acts or omissions. In this document, the terms
"TotalEnergies", "TotalEnergies "Company" and "Company" are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them. 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.
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CONTACT: TotalEnergies
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com
l
@TotalEnergiesPress
Investor Relations: +44 (0)207 719 7962 l
ir@totalenergies.com
SOURCE: TotalEnergies
Copyright Business Wire 2021
(END) Dow Jones Newswires
June 03, 2021 09:55 ET (13:55 GMT)
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