REG-TotalEnergies SE Aramco, TotalEnergies and Saudi Investment Recycling Company (SIRC) Assess the Development of a Sustainable Aviation Fuels Unit

TotalEnergies SEAnnouncement

03/12/2024 14:45

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Aramco, TotalEnergies and Saudi Investment Recycling Company (SIRC) Assess the
Development of a Sustainable Aviation Fuels Unit

 

On the occasion of the visit of the President of the French Republic Emmanuel
Macron to the Kingdom of Saudi Arabia, and in the presence of His Royal
Highness Prince Abdulaziz bin Salman Al Saud, Saudi Minister of Energy,
Aramco, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), and Saudi Investment
Recycling Company (SIRC), the major player which collects and valorizes
organic materials into sustainable products in Saudi Arabia, announced today
the signing of a Joint Development and Cost Sharing Agreement (JDCSA) to
assess the development of a sustainable aviation fuels (SAF) production unit
in the Kingdom of Saudi Arabia.

This collaboration will draw on the expertise of the three partners to develop
a production unit of sustainable aviation fuel by converting local residues
from the circular economy, such as used cooking oil and animal fats.

Amin H. Nasser, Aramco President & CEO, said “With demand for air travel
forecast to grow, it’s becoming imperative to address aviation emissions
through lower-carbon alternatives such as sustainable aviation fuels. This is
where major global energy companies like Aramco and TotalEnergies can play a
part, by collaborating to help meet this need. Addressing transport emissions
requires a wide range of approaches and Aramco is pursuing a number of
potential innovative solutions, as we seek opportunities to make an impact. We
already have a well-established partnership with TotalEnergies and this new
collaboration demonstrates our intent to explore ways to leverage our combined
strengths, in this case with a view to establishing a sustainable aviation
fuels plant in the Kingdom with SIRC. As Saudi Arabia’s tourism and aviation
sectors expand, this could potentially benefit both domestic and international
airlines.”

Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies,
said: “We are delighted to partnering with Aramco and SIRC to study the
production of sustainable aviation fuels in the Kingdom. By leveraging our
collective expertise, we can take a further step towards the decarbonization
of air transport together. SAF is at the heart of our company's transition
strategy, as we strive to meet the aviation industry's demand to reduce its
carbon footprint. Saudi Arabia is emblematic of our multi-energy strategy
aimed at supporting the energy transition of oil and gas producing countries.
This SAF production project contributes to the country's Green Initiative and
Vision 2030’s objectives.”

Eng. Ziad Al-Sheha, Chief Executive Officer of SIRC, said: “In keeping with
our commitment to supporting the ambitious sustainability objectives of Vision
2030 and the Saudi Green Initiative, we have a keen focus on increasing waste
conversion rates into renewable resources. The new partnership with Aramco and
TotalEnergies to assess the feasibility of a renewable aviation fuels plant
signifies a major leap forward in our mission. We also believe it will enrich
and energize our efforts to lead the development of the Kingdom’s circular
economy.”

***

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 supplying
affordable, reliable, clean energy to as many people as possible.
TotalEnergies intends to put sustainability, in all its dimensions, at the
center of its strategy, projects and operations.

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About Aramco:

Aramco is a global integrated energy and chemicals company. We are driven by
the core belief that energy is opportunity. From producing approximately one
in every eight barrels of the world’s oil supply to developing new energy
technologies, our global team is dedicated to creating impact in all that we
do. We focus on making our resources more dependable, more sustainable and
more useful. This helps promote stability and long-term growth around the
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About SIRC:

The Saudi Investment Recycling Company (SIRC), a wholly owned subsidiary of
the Public Investment Fund (PIF), was established in 2017 to lead Saudi
Arabia’s circular economy for a sustainable future. The company invests in
the development of the local waste management sector and is striving to boost
the Kingdom’s capabilities to meet its objective of raising total municipal
solid waste recycling operations to 81% by 2035. For more information, visit:
www.sirc.sa
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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 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).

TotalEnergies Contacts 

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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
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Contact Aramco 

International Media Relations: international.media@aramco.com 
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