REG-TotalEnergies SE Qatar: TotalEnergies the First Company Selected to Partner with QatarEnergy on the Giant North Field East LNG Project

TotalEnergies SEAnnouncement

13/06/2022 07:00

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Qatar: TotalEnergies the First Company Selected to Partner with QatarEnergy on
the Giant North Field East LNG Project

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):

Following the request for proposals in relation to partner selection for the
North Field East (NFE) liquified natural gas project, TotalEnergies has been
awarded a 25% interest in a new joint venture (JV), alongside national company
QatarEnergy (75%). The new JV will hold a 25% interest in the 32 million tons
per annum (Mtpa) NFE project, equivalent to one 8 Mtpa LNG train.

The World's Largest LNG Project

The NFE, launched by QatarEnergy in summer 2019, is currently under
construction. It is intended to increase Qatar's total LNG export capacity
from 77 Mtpa to around 110 Mtpa by 2027, thanks to the construction of four 8
Mtpa trains. The upstream part of the project will develop the southeastern
area of the field with 8 platforms, 80 wells and gas pipelines to the onshore
plant.

A Low-Carbon LNG Project

Paying special attention to environmental and climate challenges, the project
will apply the highest standards to reduce emissions. The native CO(2) from
natural gas production will be captured and sequestrated in a saline aquifer.
In addition, the facilities will be connected to the country's electrical
grid, which will supply a growing portion of renewable electricity – in line
with Qatar’s climate ambitions – thanks to the giant Al Kharsaah solar
power plant, which is scheduled to come on stream in 2022, and in which
TotalEnergies is a partner.

At the award ceremony, Patrick Pouyanné, Chairman and Chief Executive Officer
of TotalEnergies, said: "This is another historic day for TotalEnergies in
Qatar, where we have been present for more than 80 years. Qatar has huge
natural gas resources that it intends to develop further to increase the
production of the least expensive, the most environmentally respectful and the
best located LNG. TotalEnergies was present at the beginning of its LNG
industry in Qatar some 30 years ago through its interest in Qatargas 1, and
then Qatargas 2 in 2005. We are very proud that Qatar has chosen again
TotalEnergies, this time as the first partner for its new major phase of LNG
expansion. It is a clear testimony of the profound trust that the teams have
developed together, and it will extend our strategic partnership with Qatar
and QatarEnergy for more than 25 years. It is good news for the fight against
Climate Change as gas and LNG are key to support the energy transition, and
notably the shift from coal to gas in many countries. With its low costs and
low greenhouse gas emissions – thanks to carbon capture and storage – the
North Field expansion will be an exemplary and major contribution to our
low-carbon LNG growth strategy. This new partnership will indeed enable us to
reinforce our global LNG portfolio and, together with Qatar, it will support
our ability to contribute to Europe energy security."

In his remarks during the ceremony, His Excellency Mr. Saad Sherida Al-Kaabi,
the Minister of State for Energy Affairs, the President and CEO of
QatarEnergy, said: “This is a historic landmark for Qatar’s energy
industry and for the world’s largest LNG development. The North Field East
project is an iconic achievement that will not only ensure the optimal
utilization of Qatar’s natural resources but will also provide the world
with the cleaner and more reliable energy it needs. Today, QatarEnergy is
standing at the threshold of a new era with a stronger commitment to energy
transition and to the safe, reliable, and trustworthy access to cleaner
energy. We will continue to power lives in every corner of the world for a
better tomorrow for all. This is our commitment. We look forward to working
closely with TotalEnergies, who are a long-term strategic partner that we have
always trusted to support the efficient and safe delivery of our projects. I
would like to thank all the team members in QatarEnergy and TotalEnergies for
the excellent collaboration and for all their hard work that has led to this
important moment. I also would like to express thanks and appreciation to the
project’s team and to the Qatargas organization for continuing to deliver
the NFE project, and with an outstanding safety record. We are forever
grateful to the wise leadership of His Highness the Amir Sheikh Tamim bin
Hamad Al Thani and for His unlimited support of Qatar’s energy sector.”

***

TotalEnergies, The World’s Third-Largest Low-Carbon LNG Company

TotalEnergies is the world’s third-largest low-carbon LNG company, with a
global market share of around 10% and a global portfolio of nearly 50 Mt/y by
2025 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, trading, and LNG bunkering.
TotalEnergies ambition is to increase the share of natural gas in its sales
mix to 50% by 2030, reduce the gas value chain’s carbon emissions, eliminate
methane emissions, and work with local partners to promote the transition from
coal to natural gas.

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 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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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).

TotalEnergies

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