Totalenergies To Launch Several Key Oil/Gas Projects In 2024, Says CEO
Date
10/3/2024 5:12:51 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, October 3. TotalEnergies is
poised for significant growth in oil and gas production over the
next decade, driven primarily by the liquefied Natural gas (LNG)
sector, according to CEO Patrick Pouyanné, Trend reports.
In a recent statement, Pouyanné highlighted that the company
expects average annual production growth of approximately 3%
through to 2030. This expansion will be led by the launch of six
major projects in 2024, located in Brazil, Suriname, Angola, Oman,
and Nigeria, which are set to enhance production and de-risk the
company's growth outlook through 2028 and beyond.
"These projects represent a major leap forward for
TotalEnergies, ensuring steady growth while securing our position
in the global energy market," Pouyanné said. "LNG, in particular,
will be a driving force as we expand our presence in key
markets."
In 2025 and 2026, growth is expected to exceed 3% annually as
several high-margin projects come online in regions including the
United States' Gulf of Mexico, Brazil, Iraq, Uganda, Argentina,
Malaysia, and Qatar. These ventures are projected to boost net
income and cash flow per barrel, providing a strong financial
foundation for the company moving forward.
Additionally, Pouyanné underscored the importance of long-term
LNG sales contracts, particularly those indexed on Brent crude,
which the company secured to stabilize its LNG exposure to spot gas
prices. TotalEnergies has also strengthened its upstream gas
production capabilities through two low-cost acquisitions in the
United States, further solidifying its growth strategy.
"By focusing on high-margin projects and securing favorable
contracts, we are ensuring that TotalEnergies remains resilient and
profitable in the evolving energy landscape," Pouyanné added.
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