REG-TotalEnergies SE Denmark: TotalEnergies Welcomes a Partner and Future Customer in the Bifrost CCS Project

TotalEnergies SEAnnouncement

Thu 08:00

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Denmark: TotalEnergies Welcomes a Partner and Future Customer in the Bifrost
CCS Project

 

TotalEnergies, through its affiliate TotalEnergies E&P Denmark, has
entered into a Farm-Down Agreement with CarbonVault, the Danish affiliate of
the German cement producer SCHWENK. Under this agreement, TotalEnergies
E&P Denmark will hold a 45% interest in the Bifrost Carbon Capture and
Storage (CCS) Project as the operator, alongside CarbonVault (35%) and
Nordsøfonden (20%).

The Bifrost Project, which comprises two CO2 offshore storage licenses located
approximately 200 kilometers west of the Danish coast, is part of
TotalEnergies’ North Sea CCS portfolio.

SCHWENK is committed to the decarbonization of its activities in Europe and
chose Bifrost to be its preferred solution to store its future emissions. This
partnership within the Bifrost Project illustrates how TotalEnergies can
contribute to its customers’ own emissions reduction by combining the
decarbonization roadmap of an industrial emitter with the capabilities of a
CCS developer.

“We look forward to working with our new partner to ensure the successful
deployment of the Bifrost Project, a cornerstone of Denmark’s national
ambition to establish a European hub for CO₂ storage,” said Arnaud Le
Foll, Senior Vice-President New Business - Carbon Neutrality at TotalEnergies.

Completion of the transaction is subject to customary conditions, including
regulatory approvals.

About TotalEnergies and Carbon Capture and Storage

TotalEnergies’ focus is first to avoid emissions and then to reduce them by
developing and deploying a systematic approach, asset-by-asset, to implement
the best available technologies. For its residual emissions and the emissions
of its customers, the Company is developing industrial projects for carbon
storage. Backed by core competencies in large-scale project management, gas
processing and geosciences, TotalEnergies is on track to enable significant
decarbonization of European businesses through projects such as Northern
Lights in Norway, NEP in the United Kingdom, Bayou-Bend in the US, Aramis in
the Netherlands and Bifrost in Denmark.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen,
renewables and electricity. Our more than 100,000 employees are committed to
providing 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.

TotalEnergies Contacts

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

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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 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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