TotalEnergies

TotalEnergies and CMA CGM are partnering in a 50/50 JV to develop LNG bunkering in Rotterdam. The JV includes a new 20,000 m³ LNG bunker vessel by 2028 and aims to offer seamless logistics in the ARA region. TotalEnergies will supply CMA CGM with up to 360,000 tons of LNG annually from 2028-2040, supporting CMA CGM’s Net Zero Carbon goal and dual-fuel LNG-powered fleet expansion. The collaboration will enhance LNG delivery and operational efficiency, furthering decarbonization in maritime transport.

TotalEnergies acquires Moeve’s 25% stake in Suriname’s Block 53, partnering with APA and Petronas. Strategically located near Block 58 and the Baja-1 discovery, the move aims to unlock new resources for the GranMorgu project, leveraging infrastructure for further development and solidifying TotalEnergies’ position in the region’s deepwater oil and gas sector. Javier Rielo emphasizes expanded production potential.

TotalEnergies acquired a 25% stake in 40 offshore exploration leases from Chevron in the U.S., spanning ~1,000 sq km across Walker Ridge, Mississippi Canyon, and East Breaks areas. This expands TotalEnergies’ U.S. offshore presence, building on collaborations with Chevron in projects like Ballymore and Anchor. The move reinforces TotalEnergies’ commitment to low-emission projects and its integrated energy strategy, including significant investments in LNG and renewables in the U.S. since 2022.

TotalEnergies will sell its 12.5% stake in Nigeria’s OML118 PSC to Shell for $510 million to focus on lower-emission assets. The OML118 asset includes the Bonga field, with the sale expected to reduce TotalEnergies’ Nigerian output by approximately 11,000 barrels of oil equivalent per day in 2024. This move aligns with TotalEnergies’ strategy to streamline its portfolio and concentrate on existing gas and offshore oil projects, including the Ubeta project.

TotalEnergies launched oil production from its Mero-4 phase in Brazil’s pre-salt Santos Basin, bolstering its low-carbon strategy. The offshore project, linked to the 180,000 b/d Alexandre de Gusmão FPSO, employs emissions-reduction technologies like gas reinjection. Combined with existing units, Mero’s total output reaches 770,000 b/d. TotalEnergies’ stake is expected to deliver 100,000 boe/d. Operated by the Libra Consortium (Petrobras, TotalEnergies, Shell, CNPC, CNOOC, and Pré-Sal Petróleo), the project aligns with the company’s 3% annual production growth target by 2030. TotalEnergies also emphasized Brazil’s role in its renewables expansion, including a 12 GW solar/wind joint venture, balancing hydrocarbon growth with sustainability goals.