REG-TotalEnergies SE Australia: TotalEnergies, INPEX and Woodside Join Forces to Develop a Major Offshore CO2 Sequestration Project

TotalEnergies SEAnnouncement

24/08/2022 08:15

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Australia: TotalEnergies, INPEX and Woodside Join Forces to Develop a Major
Offshore CO(2) Sequestration Project

 

The Bonaparte CCS Assessment joint venture between TotalEnergies (Paris:TTE)
(LSE:TTE) (NYSE:TTE) (26%), INPEX (53%, Operator) and Woodside (21%) has been
awarded a Greenhouse Gas Storage Assessment Permit, off the northwest coast of
Australia, to carry out evaluation and appraisal work on block G-7-AP, which
is considered a promising area for geological storage of CO(2). Appraisal work
will begin in 2023.

By enabling permanent CO2 sequestration in the region, this project
complements existing solutions to avoid and reduce greenhouse gas emissions
from Ichthys LNG, a nearby natural gas liquefaction and export terminal that
TotalEnergies (26%) is a founding partner. It is also fully consistent with
TotalEnergies' initiatives to promote and develop CCS (carbon capture and
storage).

“This promising greenhouse gas storage assessment permit is fully in line
with our strategy to provide more energy with lower emissions, and our
ambition to achieve net zero by 2050, together with society. TotalEnergies
aims to develop more than 10 Mt/year of carbon storage capacity by 2030,
including storage for its facilities as well as storage services for its
customers,” said Julien Pouget, Senior Vice President, TotalEnergies
Asia-Pacific E&P & Renewables. “As a partner in both the Ichthys LNG
and Bonaparte CCS Assessment joint ventures, TotalEnergies is well positioned
to contribute to low carbon LNG production in Australia.”

TotalEnergies and Carbon Capture and Storage (CCS)

TotalEnergies’ focus is first to avoid then to reduce its emissions by
developing and deploying a systematic approach, asset-by-asset, to implement
the best available technologies. In particular, the Company is developing
industrial projects for carbon capture, transport, and storage (CCS). Backed
by core competencies in large-scale project management, gas processing and
geosciences, TotalEnergies is on track to achieve its ambition of developing
storage capacity of 10 million metric tons of CO2 per year by 2030 through
significant industrial projects such as Northern Lights in Norway and Aramis
in the Netherlands. Through all its CCS projects, the Company will reduce its
own emissions and those of its customers.

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.

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)

@TotalEnergies
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Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TotalEnergies SE directly or
indirectly owns investments are separate legal entities. TotalEnergies SE has
no liability for their acts or omissions. The terms “Company” or
“TotalEnergies company” refer collectively to the company TotalEnergies SE
and the companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present communication.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them. 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.



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