10/02/2024 | Press release | Distributed by Public on 10/03/2024 05:07
TotalEnergies advances its balanced and profitable transition strategy anchored on two pillars: Oil & Gas, notably LNG, and electricity, growing its global energy production (oil, gas, electricity, bioenergy) by 4% per year through 2030 whiledrastically lowering the emissions from its operations (-40% on Scope 1+2 net in 2030 vs 2015 and - 80% on methane in 2030 vs 2020). As a result of this transition strategy, the average carbon content of TotalEnergies energy sales will be 25% lower in 2030 vs 2015.
Since its last outlook in September 2023,TotalEnergies has de-risked its growth and profitability perspectives in several ways:
Natural gas is indeed at the core of TotalEnergies' transition strategy through an outstanding LNG growth (+50% over 2024-2030) and a gas-to-power integration supporting its profitable Integrated Power strategy to complement the intermittent renewables.
TotalEnergies confirms net investments between $16-18 billion per year during 2025-2030, of which around $5 billion will be dedicated to low-carbon energies. The Company retains flexibility to reduce its net investments by $2 billion in case of a sharp drop in prices.
Thanks to this clear and disciplined investment policy and the perspective for+$10 billion of free cash flow growth by 2030 (versus 2024 at same price deck),the Board of Directors has confirmed a shareholder return2 of over 40% of cash flow through cycles and has made the following decisions:
Read the full press release on the TotalEnergies website
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About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 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.
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