REG-TotalEnergies SE Australia: TotalEnergies Acquires a 26% Interest in the Cash-Maple Gas Discoveries for the Long-term Supply of Ichthys LNG

TotalEnergies SEAnnouncement

21/08/2023 08:00

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Australia: TotalEnergies Acquires a 26% Interest in the Cash-Maple Gas
Discoveries for the Long-term Supply of Ichthys LNG

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and INPEX have signed an
agreement with PTTEP in order to acquire the 100% interest held by PTTEP in
the AC-RL7 permit in Australia. Under the terms of the agreement, which is
subject to approval by the relevant authorities, TotalEnergies will acquire a
26% interest in the permit in line with its equity in Ichthys LNG, while INPEX
will acquire the remaining 74% and assume operatorship.

The permit covers an area of 418 sq.km in the Timor Sea, approximately 250
kilometers northeast of the Ichthys offshore facilities. This permit includes
the Cash and Maple gas and condensate fields, discovered in 2002 and 1989
respectively, and subsequently appraised by several wells. The development of
these fields is expected to contribute to the long-term supply of the Ichthys
LNG natural gas liquefaction plant, in which TotalEnergies is a 26% partner
while INPEX and other Asian minority shareholders hold the remaining 74%.

“Thanks to this joint acquisition together with our partner INPEX, we are
pleased to secure additional resources for the future supply of the Ichthys
LNG plant. These resources will help us to meet the long-term demand of our
customers in the Asia-Pacific region for LNG. This acquisition is also
supported by the efforts undertaken with INPEX in the Bonaparte CCS Assessment
joint venture to appraise the area’s potential for geological storage of
CO(2), in order to abate CO(2) emissions from the Ichthys LNG project”, said
Julien Pouget, Senior Vice President Asia-Pacific, Exploration &
Production at TotalEnergies.

***

TotalEnergies, the world’s third largest LNG player

TotalEnergies is the world’s third largest LNG player with a market share of
around 12% and a global portfolio of about 50 Mt/y 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, access to more than 20 Mt/y of regasification capacity in
Europe, trading, and LNG bunkering. TotalEnergies’ ambition is to increase
the share of natural gas in its sales mix to close to 50% by 2030, to reduce
carbon emissions and eliminate methane emissions associated with the gas value
chain, and to 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 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.

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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 Contacts 

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