Regulatory News:
During a visit in Muscat on April 21st, Patrick Pouyanné,
Chairman and CEO of TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE)
met with His Majesty Sultan Haitham bin Tariq Al Said and His
Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy &
Minerals, to reaffirm the long-term partnership between
TotalEnergies and the Sultanate of Oman.
On the occasion of this visit, Patrick Pouyanné and Mr. Mulham
Basheer Al Jarf, Chairman of OQ, the Oman National Oil Company,
announced the Final Investment Decision (FID) of the Marsa LNG
project.
TotalEnergies had signed a Sale and Purchase Agreement (SPA)
with Oman LNG to offtake 0.8 Mtpa of LNG for ten years from 2025,
making the Company one of the main offtaker of Oman LNG's
production.
Finally, TotalEnergies (49%) and OQ Alternative Energy (51%),
the national renewable energy champion, have confirmed being at an
advanced stage of discussions to jointly develop a portfolio of up
to 800 MW, including the 300 MWp solar project that will supply
Marsa LNG
Marsa LNG, an innovative integrated project
Through their joint company Marsa Liquefied Natural Gas
(“Marsa”), TotalEnergies (80%) and OQ (20%) launch the integrated
Marsa LNG project which combines:
- upstream gas production: 150 Mcf/d of natural gas,
coming from the 33.19% interest held by Marsa in the Mabrouk
North-East field on onshore Block 10, which will provide the
required feedstock for the LNG plant. Block 10 production started
in January 2023 and reached plateau in April 2024. The FID allows
Marsa LNG to extend its rights in Block 10 until its term in
2050.
- downstream gas liquefaction: a 1 Mt/y capacity LNG
liquefaction plant will be built in the port of Sohar. The LNG
production is expected to start by first quarter 2028 and is
primarily intended to serve the marine fuel market (LNG bunkering)
in the Gulf. LNG quantities not sold as bunker fuel will be
off-taken by TotalEnergies (80%) and OQ (20%).
- renewable power generation: a dedicated 300 MWp PV solar
plant will be built to cover 100% of the annual power consumption
of the LNG plant, allowing a significant reduction in greenhouse
gas emissions.
Setting very low carbon intensity standards for the next
generation of LNG plants
The Marsa LNG plant will be 100% electrically driven and
supplied with solar power, positioning the site as one of the
lowest GHG emissions intensity LNG plants ever built worldwide,
with a GHG intensity below 3 kg CO2e/boe. (for reference, the
average emission intensity of LNG plants is around 35 kg CO2e/boe -
this represents a reduction in emissions of more than 90%).
The main Engineering, Procurement and Construction contracts
have been awarded to Technip Energies for the LNG plant and to
CB&I for the 165,000 m3 LNG tank.
The Marsa LNG project will generate long-term employment
opportunities and significant socio-economic benefits for the city
of Sohar and the region.
The first LNG bunkering hub in the Middle East
The ambition of the Marsa LNG project is to serve as the first
LNG bunkering hub in the Middle East, showcasing an available and
competitive alternative marine fuel to reduce the shipping
industry's emissions. Compared to conventional marine fuel, LNG
helps to cut:
- Greenhouse gas emissions by up to 23%,
- Nitrogen oxide emissions by up to 85%.
- Sulfur emissions by 99%,
- Fine particle emissions by 99%.
“We are proud to open a new chapter in our history in the
Sultanate of Oman with the launch of the Marsa LNG project,
together with our partner OQ, demonstrating our long-term
commitment to the country. We are especially pleased to deploy the
two pillars of our transition strategy, LNG and renewables, and
thus support the Sultanate on a new scale in the sustainable
development of its energy resources”, said Patrick Pouyanné,
Chairman and CEO of TotalEnergies. “This very innovative
project illustrates our pioneer spirit and showcases the relevance
of our integrated multi-energy strategy, with the ambition of being
a responsible player in the energy transition. By paving the way
for the next generation of very low emission LNG plants, Marsa LNG
is contributing to making gas a long-term transition energy.”
***
TotalEnergies in Oman TotalEnergies has been present in
Oman since 1937. In the first quarter 2024, TotalEnergies’
production in Oman was 61 kboe/d. TotalEnergies produces oil in
Block 6 (4%), natural gas in Block 10 (26.55% via Marsa LNG LLC) 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 Mtpa. TotalEnergies is currently
conducting exploration activities in Block 12 (50%, operator), and
is appraising Block 11 (22.5%). TotalEnergies also contributes to
the development of renewables in the country, such as the largest
solar photovoltaic system built to provide power for a desalination
plant in Oman (17 MWp – 30,000 MWh/y), in a joint-venture with
Veolia, which began commercial operation in April 2023.
TotalEnergies, the world’s third largest LNG player
TotalEnergies is the world’s third largest LNG player with a global
portfolio of 44 Mt/y in 2023 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 close 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.
TotalEnergies supports the role of LNG in shipping’s energy
transition Marine LNG sharply reduces emissions from ships and
significantly improves air quality, in particular when at berth,
for the benefit of port cities and communities in coastal areas.
Used as a marine fuel, LNG helps to cut greenhouse gas emissions by
up to 23% compared to conventional marine fuel and has the
potential to reduce emissions significantly more if bio or
synthetic LNG is used. As such, marine LNG is a sustainable,
affordable and immediately available way of reducing emissions in
the shipping sector. TotalEnergies has actively invested in LNG
bunkering infrastructure, critical to supporting its shipping
customers' adoption of LNG as a marine fuel. The Company currently
deploys three LNG bunker vessels: the Gas Agility at the Port of
Rotterdam, Netherlands, the Gas Vitality at the Port of
Marseille-Fos, France, and the Brassavola at the Port of
Singapore.
About TotalEnergies TotalEnergies is a global integrated
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 provide as many
people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries,
TotalEnergies places sustainability at the heart of its strategy,
its projects and its operations.
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