Oman: TotalEnergies is Rolling Out its Integrated Gas Strategy
20 Janeiro 2023 - 7:18AM
Business Wire
Regulatory News:
In line with its growth strategy in gas and LNG, a fuel
contributing to the energy transition, TotalEnergies (Paris:TTE)
(LSE:TTE) (NYSE:TTE) announces the start of gas production from
onshore Block 10 in the Sultanate of Oman as well as an agreement
with Oman LNG for a long-term LNG purchase contract.
Start of gas production from Block 10
TotalEnergies announces the start of gas production from the
Mabrouk North-East field in the onshore Block 10. TotalEnergies
holds a 26.55% interest in Block 10, with OQ holding 20% and Shell,
operator, holding 53.45%.
Gas production is expected to reach 500 million standard cubic
feet per day by mid-2024. The produced gas will supply the Omani
gas network, feeding both local industry and LNG export facilities.
This production start-up follows the signing of the concession
agreement in December 2021.
Long-term LNG purchase contract
TotalEnergies has also signed an agreement with Oman LNG for the
purchase of 0.8 million metric tons of LNG per year over a period
of ten years starting from 2025.
This new contract will contribute to TotalEnergies' LNG
integrated portfolio and reinforce its flexibility, by allowing to
address both the European and Asian markets. This LNG will
contribute to the reduction of emissions into the atmosphere since
it will allow the electric utilities who purchase this gas to
substitute it for coal, thus avoiding CO2 emissions (a natural gas
power plant releases about half as much CO2 as a coal power
plant).
“These announcements are consistent with the ambition of
TotalEnergies to contribute to the energy transition and reinforce
its long-standing partnerships with both Oman LNG and the Omani
State”, said Patrick Pouyanné, Chairman and CEO of
TotalEnergies. “TotalEnergies deploys in Oman its multi-energy
strategy in oil, gas and renewables and so participates in the
sustainable development of the country’s natural resources.”
TotalEnergies has recently signed 30 MW of Solar projects in
Oman including a project to supply Sharqiyah Desalination Company
(17 MW), in joint-venture with Veolia.
***
About TotalEnergies in Oman In 2022, TotalEnergies’
production in Oman was 40 kboe/d. TotalEnergies produces oil in
Block 6 (4%), as well as LNG through its participation in the Oman
LNG (5.54%)/Qalhat LNG (2.04% via Oman LNG) liquefaction complex
with an overall capacity of 11.4 Mt/y. In 2021 TotalEnergies signed
a Concession Agreement to develop natural gas resources on onshore
Block 10 (26,55%) and in 2022 TotalEnergies signed an Exploration
and Production Sharing Agreement (EPSA) to appraise Block 11
(22.5%). TotalEnergies also operates exploration Block 12 (80%) and
contributes to the development of renewables in the country.
TotalEnergies, the world’s third largest LNG player
TotalEnergies is the world’s third largest LNG player with a market
share of around 10% and a global portfolio of about 40 Mt/y 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, access to more than 20
Mt/y of regasification capacity in Europe, trading, and LNG
bunkering. TotalEnergies’ ambition is to increase the share of
natural gas in its sales mix to 50% by 2030, to reduce carbon
emissions and eliminate methane emissions associated with the gas
value chain, and to 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: TotalEnergies Instagram: TotalEnergies
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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