REG-TotalEnergies SE Algeria: TotalEnergies Strengthens its Gas Partnership with SONATRACH and Extends it to Renewables

TotalEnergies SEAnnouncement

10/07/2023 08:00

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Algeria: TotalEnergies Strengthens its Gas Partnership with SONATRACH and
Extends it to Renewables

 

During a meeting held on July 9 in Algiers between Patrick Pouyanné, Chairman
and CEO of TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), and Toufik Hakkar,
Chief Executive Officer of SONATRACH, several agreements were signed to
strengthen the cooperation between the two companies in the production of
natural gas in Algeria, the delivery of liquefied natural gas (LNG) to Europe,
as well as the development of renewables in Algeria.

1. Natural gas: increased production at the Tin Fouyé Tabankort fields

Under a first agreement, which remains subject to the approval of the Algerian
authorities, SONATRACH and TotalEnergies have agreed to convert the production
contracts for the Tin Fouyé Tabankort II (TFTII) and Tin Fouyé Tabankort Sud
(TFT sud) fields in southern Algeria (Sonatrach 51%, TotalEnergies 49%) to the
framework established by the new Algerian Petroleum Law enacted on December
11, 2019.

In this context, SONATRACH and TotalEnergies will pursue the investment
program already launched to increase the gas production of TFTII and TFT
South, which includes the upgrade of existing facilities and the drilling of
additional wells. The combined production of the two fields is expected to
exceed 100,000 boe per day by 2026, versus a level of around 60,000 boe per
day in 2022, thus increasing the potential export of Algerian gas to the
European market.

2. European energy security: additional LNG deliveries

Under a second agreement, Sonatrach and TotalEnergies have extended for the
year 2024 deliveries by SONATRACH of 2 million tons per year of LNG to
TotalEnergies at the port of Fos-Cavaou, near Marseille, France. These
deliveries of Algerian liquefied natural gas contribute directly to energy
security in France and Europe.

3. Energy transition: developing renewables in Algeria

Under a third agreement, TotalEnergies and SONATRACH will cooperate to develop
renewable energy projects in Algeria, specifically:


 * Renewables projects to solarize exploration and production sites for oil and
gas;

 * A study of the potential for renewable, low-carbon hydrogen for the export
market;

 * An R&D program in low carbon energies and the energy transition.

"I am delighted to sign these new agreements with our strategic partner
SONATRACH. They testify to TotalEnergies’ close ties to Algeria, whose
resources contribute directly to Europe’s energy supply and security. We are
also delighted to be able to support Algeria in its energy transition and in
the development of its huge potential for renewable energy production," said
Patrick Pouyanné, Chairman and CEO of TotalEnergies.

About TotalEnergies in Algeria

TotalEnergies is a long-standing player in the Algerian energy sector. Present
in the country through its various subsidiaries. The Company is active in oil
and gas exploration and production through its interests in the Tin Fouyé
Tabankort and Timimoun gas fields, the Berkine Basin oil fields (Blocks 404a
and 208) and liquefied natural gas via supply contracts with Sonatrach. In
2022, the Company produced 62 kboe/d (group share) in Algeria through its
interests in the TFT II and Timimoun gas fields and in the Berkine Basin oil
fields (blocks 404a and 208). Downstream, TotalEnergies Lubrifiants Algérie
SPA and TotalEnergies Bitumes Algérie SPA market lubricants and bitumen. This
integrated model ensures synergies between the various activities and provides
a comprehensive offering based on innovation, complementarity, and value
creation. TotalEnergies is committed to supporting economic development by
launching new investment programs that contribute to the country's
development.

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 nearly 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.

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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