Totalenergies Se Stock Price, News & Analysis

Patrick Pouyanné, CEO of TotalEnergies (Euronext: TTE), visited Mozambique's Cabo Delgado province to assess the security and humanitarian situation affecting the Mozambique LNG project. During his visit, he appointed humanitarian expert Jean-Christophe Rufin to evaluate local conditions and propose actions if necessary. The Mozambique LNG project encountered challenges, resulting in a withdrawal of personnel in April 2021 due to security issues. Pouyanné noted improvements in the region since then, emphasizing that resuming project activities hinges on restored security and public services. The LNG plant aims for a capacity of 13.1 million tons per annum, with TotalEnergies holding a 26.5% interest.

In a strategic move towards profitable growth in renewable energies, TotalEnergies (Euronext: TTE) announced the sale of a 50% stake in a 234 MW portfolio of renewable projects to Crédit Agricole Assurances. The portfolio comprises 23 solar power plants (168 MW) and 6 wind farms (67 MW), with 25 plants already operational. The transaction values the portfolio at $300 million, reflecting a multiple of 16x EBITDA. This sale aims to enhance project cash flows and optimize the return on invested capital. TotalEnergies plans to achieve 4 GW of renewable generation capacity by 2025, supporting its ambition for a net-zero future.

TotalEnergies (TTE) addresses allegations made by Hindenburg Research regarding its partnership with Adani Group, emphasizing compliance with Indian laws and internal governance practices. TotalEnergies confirms its investments, including a 37.4% stake in Adani Total Gas Limited and a 19.75% stake in Adani Green Energy Limited, are managed independently. The company's exposure from these investments amounts to $3.1 billion, representing 2.4% of its capital employed. TotalEnergies supports the audit announcement by Adani and reassures stakeholders of the meticulous due diligence conducted on its investments.

TotalEnergies and Air Liquide have announced a joint venture to create over 100 hydrogen stations for heavy-duty vehicles across major European corridors, including France, Benelux, and Germany. This initiative aims to enhance hydrogen access for goods transportation and support the decarbonization of European road transport. The stations, branded under TotalEnergies, will leverage expertise from both companies, combining TotalEnergies' energy distribution capabilities and Air Liquide's hydrogen technology. The joint venture is expected to be established in 2023, pending regulatory approvals.

TotalEnergies (TTE) has commenced operations of a 51 MW solar power plant in Tsu, Japan. The facility, equipped with nearly 100,000 high-efficiency solar panels, will supply electricity to Chubu Electric Power Miraiz Co. Inc. under a 17-year power purchase agreement. This project is TotalEnergies' fourth large-scale solar installation in Japan, contributing to over 150 MW of cumulative capacity. The company aims to achieve 35 GW of renewable energy capacity by 2025 and 100 GW by 2030, positioning itself among the top global producers of renewable energy.

TotalEnergies SE has reported share repurchases conducted from January 23 to January 27, 2023, totaling 2,723,250 shares at an average purchase price of €58.73 per share, amounting to approximately €159.94 million. This buyback aligns with the authorization from the May 25, 2022 shareholders’ meeting and adheres to applicable laws. Detailed transaction data is available on the TotalEnergies website. The company continues to actively manage its share capital, reinforcing its commitment to shareholder value.

TotalEnergies (Euronext: TTE) and Eni have successfully transferred a 30% stake in Lebanon's exploration Blocks 4 and 9 to QatarEnergy. This agreement was signed in Beirut on January 29, with notable attendees including energy ministers from Lebanon and Qatar. Under the new terms, TotalEnergies and Eni will each maintain a 35% interest in the blocks, while QatarEnergy assumes the remaining 30%. This strategic partnership is expected to enhance exploration efforts in the region, particularly following the recent maritime border delineation with Israel, which is anticipated to spur drilling activities in Block 9 during 2023.

TotalEnergies (TTE) announced that TotalEnergies EP Canada has acquired an additional 6.65% interest in Fort Hills Energy Limited Partnership from Teck Resources Limited for 312 million CAD. This acquisition increases TotalEnergies EP Canada's stake in Fort Hills from 24.58% to 31.23%. The transaction is part of TotalEnergies' strategy to enhance the future spin-off entity, scheduled for a shareholder vote in May 2023. The company emphasizes long-term growth potential in this asset, aligning with its low-carbon strategy aimed at exiting Canadian oil sands.