REG-TotalEnergies SE Commissioning of the Floating LNG Regasification Unit Delivered by TotalEnergies to Lubmin Terminal in Germany

TotalEnergies SEAnnouncement

13/01/2023 08:00

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Commissioning of the Floating LNG Regasification Unit Delivered by
TotalEnergies to Lubmin Terminal in Germany

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the start-up of the
Deutsche Ostsee LNG import terminal for liquefied natural gas (LNG). Operated
by Deutsche ReGas and located in Lubmin on the German Baltic Sea coast, the
site’s official inauguration will take place tomorrow, attended by German
Federal Chancellor Olaf Scholz. This project, to which TotalEnergies is
contributing a floating storage and regasification unit (FSRU) and supplying
LNG, will make the Company one of Germany’s main LNG suppliers.

In December 2022, TotalEnergies delivered the Neptune – one of the Company's
two floating storage and regasification units) – to Deutsche Regas. The
vessel has an annual regasification capacity of 5 billion cubic meters of gas,
enough to cover about 5% of German demand.

Following Deutsche Regas’s open season procedure, in October 2022,
TotalEnergies also contracted regasification capacity of 2.6 billion cubic
meters of gas per year and began to deliver LNG from its global integrated
portfolio to the Lubmin terminal.

“Europe is facing a historic gas supply crisis caused by the sharp drop in
flows from Russia. Since the beginning of this crisis, TotalEnergies has
mobilized its LNG portfolio, which is broad and flexible, to send available
LNG to Europe and to use its 18 Mt/y regasification capacity. Thanks to the
start-up of the Lubmin terminal, TotalEnergies will be able to add to this
effort and increase its imports to Europe to over 20 Mt/y, or about 15% of the
continent’s regasification capacity. We are pleased to support this project,
which will allow Germany and Europe to further secure gas supply,” said
Stéphane Michel, President Gas, Renewables & Power at TotalEnergies.

TotalEnergies, the world’s third largest LNG and Europe’s leading
regasification player

TotalEnergies is the world’s third largest LNG player with a market share of
around 10% and a global portfolio of about 40 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 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 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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