REG-TotalEnergies SE Denmark: TotalEnergies Obtains Two CO2 Storage Licenses in the Danish North Sea

TotalEnergies SEAnnouncement

06/02/2023 15:45

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Denmark: TotalEnergies Obtains Two CO(2) Storage Licenses in the Danish North
Sea

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has been awarded two licenses
to explore CO(2) storage potential in the Danish North Sea. The licenses are
located 250 kilometers off the west coast of Denmark and cover an area of
2,118 km(2).

The acreage includes the Harald gas fields, currently operated by
TotalEnergies, for which the Company is already assessing CO(2) storage
opportunities within the framework of the Bifrost project, as well as a saline
aquifer that could increase CO(2) storage volumes and bring a competitive
solution to the market.

Alongside state-owned Nordsøfonden (20%), TotalEnergies (80%) will be the
future operator of the offshore CO(2) storage licenses. The Company will carry
out evaluation and appraisal work to develop a project that could ultimately
transport and permanently store more than 5 Mt CO(2)/year, by repurposing
existing infrastructure in the Danish North Sea and building new facilities.

“TotalEnergies is pleased to have been awarded these two CO(2) storage
licenses in Denmark. With its large geological storage potential and its
proximity to major industrial emitters in Central Europe, Denmark can play a
leading role in carbon capture and storage on the continent,” said Arnaud Le
Foll, Senior Vice President New Business - Carbon Neutrality at TotalEnergies.
“With the Northern Lights project under construction in Norway and projects
under development in the Netherlands and the UK, the North Sea area will be
the main contributor to our objective of 10 Mt/y of CO(2) storage by 2030 and
to the decarbonization of the European economy.”

***

About TotalEnergies in Denmark

TotalEnergies is Denmark’s leading oil and gas company, employing a diverse
and international workforce of around 1,200 people. We are responsible for 85%
of the oil and 97% of the national gas produced and are developing one of the
leading carbon storage projects, which is expected to save millions of tons of
CO(2) in depleted oil and gas reservoirs in the Danish North Sea.
TotalEnergies’ operations date back more than half a century, representing
an important contribution to Denmark’s economy, energy supply and
employment. In addition to its oil and gas activities, TotalEnergies is
working on establishing new business activities in offshore wind, solar energy
and other renewable energy sources.

About 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 CO(2) 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 the Bifrost project, a strong alliance uniting state, industry and
academia

Bifrost project will be key for Denmark to meet its carbon neutrality goals
and to provide employment alternatives to the work force currently related to
oil and gas production.

Bifrost project builds on the learnings from the ongoing two-year studies,
carried out with the support of the Danish Energy Technology Development and
Demonstration Programme. The project is headed by TotalEnergies and performed
together with the DUC partners (Noreco and Nordsøfonden), Ørsted and the
Technical University of Denmark.

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

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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