Totalenergies Se Stock Price, News & Analysis

TotalEnergies has signed a Power Purchase Agreement (PPA) with Saint-Gobain to supply renewable electricity to Saint-Gobain's French facilities. The agreement, effective from January 2026, covers a total volume of 875 GWh over five years. TotalEnergies will provide baseload electricity and guarantees of origin from its wind and solar plants in France.

This contract complements a previous agreement for biomethane sales. The PPA demonstrates TotalEnergies' commitment to decarbonizing French industry and its ability to offer tailored electricity solutions. TotalEnergies has a renewable portfolio of over 2 GW in France, preventing 800,000 tons of CO2 emissions annually.

For Saint-Gobain, this agreement supports its goal of achieving net-zero carbon emissions by 2050. Combined with other PPAs, 30% of Saint-Gobain's electricity in France will be from renewable sources by 2027.

TotalEnergies SE (TTE) has disclosed its share repurchase transactions from October 1 to October 4, 2024, in accordance with shareholder authorizations and applicable laws. The company bought back a total of 1,427,566 shares at an average price of €60.823091 per share, for a total amount of €86,828,976.29. The purchases were made across four trading venues: XPAR, CEUX, TQEX, and AQEU.

The daily volumes and weighted average purchase prices varied across the four days, with the highest daily volume of 369,842 shares on October 4, 2024, and the highest average price of €62.565644 per share on the same day. Detailed transaction information is available on the TotalEnergies website, as required by the Market Abuse Regulation.

TotalEnergies has signed an agreement with RWE to acquire a 50% stake in two offshore wind projects in the North Sea. The projects, N-9.1 and N-9.2, each with 2 GW capacity, are located 110 km off the German coast and were awarded to RWE in August 2024. This acquisition adds to TotalEnergies' existing German offshore wind concessions, creating a 6.5 GW German offshore wind hub.

The projects have 25-year licenses, extendable to 35 years, and are scheduled for commissioning in 2031 and 2032. This partnership aims to contribute to TotalEnergies' integrated development in the German electricity market and provide green energy to decarbonize Germany's electricity and industry. Preliminary studies on marine environment, subsoil, and wind conditions have already been conducted by the German Federal Maritime and Hydrographic Agency (BSH).

TotalEnergies presented its Strategy & Outlook for 2024-2030, focusing on a balanced and profitable transition strategy. The company aims to grow its global energy production by 4% per year through 2030 while reducing emissions from operations. Key points include:

1. Oil & Gas production growth of ~3% per year to 2030, led by LNG
2. Electricity generation growth, reaching over 100 TWh in 2030 (70% renewable)
3. Net investments of $16-18 billion per year during 2025-2030
4. Anticipated $10 billion free cash flow growth by 2030
5. Shareholder return of over 40% of cash flow through cycles

For 2024, TotalEnergies plans $8 billion in share buybacks. In 2025, the company will continue share buybacks of $2 billion per quarter and increase the dividend per share by at least 5%.

TotalEnergies has announced the Final Investment Decision (FID) for the GranMorgu development on offshore Block 58 in Suriname. The project will develop the Sapakara and Krabdagu oil discoveries, with recoverable reserves estimated at over 750 million barrels. Key features include:

- A 220,000 barrels per day FPSO unit
- Total investment of around $10.5 billion
- First oil expected in 2028
- TotalEnergies as operator with 50% interest, APA 50%
- Staatsolie to potentially enter with up to 20% interest

The project aims to minimize greenhouse gas emissions and maximize local content, with over $1 billion in local investments and the creation of more than 6,000 jobs in Suriname. This landmark project marks the first offshore development in the country and is expected to significantly impact Suriname's economy.

TotalEnergies SE (TTE) has disclosed its recent share repurchase transactions conducted on September 23 and 24, 2024. The company bought back a total of 982,349 of its own shares (FR0000120271) at an average price of €62.645580 per share, for a total amount of €61,539,822.66. The purchases were made across four different market venues: XPAR, CEUX, TQEX, and AQEU.

On September 23, TTE acquired 497,317 shares at an average price of €62.3327, while on September 24, the company purchased 485,032 shares at an average price of €62.9661. These transactions were executed in accordance with the authorizations given by shareholders at the general meeting on May 24, 2024, and comply with applicable laws on share repurchases.

Detailed information about individual trades is available on the TotalEnergies website, as required by the Market Abuse Regulation.

TotalEnergies has launched commercial operations of Danish Fields and Cottonwood, two utility-scale solar farms with integrated battery storage in southeast Texas. These projects, with a combined capacity of 1.2 GW, are part of a 4 GW renewable asset portfolio in Texas. Danish Fields, TotalEnergies' largest U.S. solar farm, has a 720 MWp capacity and a 225 MWh battery storage system. Cottonwood has a 455 MWp capacity and will feature 225 MWh of battery storage by 2025.

Both projects have long-term Corporate Power Purchase Agreements (CPPAs) with industry players like Saint-Gobain and LyondellBasell, featuring upside sharing mechanisms. These solar farms will support TotalEnergies' decarbonization efforts for its industrial plants in the U.S. Gulf Coast region. The company aims to achieve a combined gross capacity of 10 GW by 2025 and more than 25 GW by 2030 in the United States.

TotalEnergies (TTE) has signed an agreement with Lewis Energy Group to acquire a 45% interest in dry gas producing assets in the Eagle Ford basin, Texas. This acquisition follows the Texas Dorado purchase announced in April 2024, further strengthening TotalEnergies' integration across the U.S. gas value chain. The assets have the potential to reach a sustainable gross production of around 400 Mcf/d by 2028.

TotalEnergies is currently the largest exporter of U.S. LNG, with over 10 million tons exported in 2023. The company's U.S. LNG export capacity is expected to reach 15 Mt/y by 2030. This acquisition enhances TotalEnergies' upstream gas position in the United States and contributes to its integrated LNG position with a low-cost upstream gas supply.

TotalEnergies and partners Equinor and Shell have completed the CO2 receiving and storage facilities of Northern Lights Joint-Venture in Norway. The project includes a terminal for CO2 cargos, a 100 km subsea pipeline, and injection facilities for permanent CO2 storage 2,600 meters below the seabed. Northern Lights is now ready to receive and store CO2 from European industries, with first injection expected in 2025.

The initial phase, supported by the Norwegian government, has a capacity of 1.5 Mt CO2/year, which is fully booked. Studies are underway for a potential expansion to over 5 Mt CO2/year in a second phase. This project marks a significant milestone in demonstrating Carbon Capture and Storage (CCS) as a viable option for achieving climate goals and decarbonizing European industry.