REG-TotalEnergies SE TotalEnergies Extends Partnership with Oman LNG

TotalEnergies SEAnnouncement

02/11/2023 07:45

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TotalEnergies Extends Partnership with Oman LNG

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an amendment to
extend its partnership with Oman LNG, an Omani liquefied natural gas (LNG)
joint venture in which the Company holds a 5.54% stake.

Located on the northeast coast of Oman, the Oman LNG liquefaction complex
comprises two liquefaction trains, each with a capacity of 3.8 million metric
tons of LNG per year (Mtpa). It is adjacent to the Qalhat LNG project,
comprising one 3.8 Mtpa train, and in which Oman LNG holds a stake. This
brings the site's total production to 11.4 Mtpa.

Through this agreement, TotalEnergies is extending beyond 2024 its interest in
Oman LNG, by ten years, and in Qalhat LNG, by five years. The parties agreed
to finance investments to reduce the plant’s GHG emissions during this
extension. In January 2023, TotalEnergies had also signed an agreement with
Oman LNG to offtake 0.8 Mtpa of LNG for ten years from 2025, making the
Company one of the main offtaker of Oman LNG's production.

"We are pleased to extend our partnership with Oman LNG. This LNG contributes
to our supply of Europe and Asian markets, and strengthens our integrated and
flexible global portfolio, in line with TotalEnergies’ ambition to increase
its LNG production and long-term purchases by 50% by 2030," said Julien
Pouget, Senior Vice President Middle East & North Africa, Exploration
& Production at TotalEnergies.

About Oman LNG's shareholders

Oman LNG is majority-owned by the Government of the Sultanate of Oman (51%),
the other shareholders being Shell (30%), TotalEnergies (5.54%), Korea LNG
(5%), PTTEP (2%), Mitsubishi (2.77%), Mitsui (2.77%) and Itochu (0.9%). Qalhat
LNG is also majority-owned by the Government of Oman (46.84%), Oman LNG
(36.8%), Naturgy (7.36%), Itochu (3%), Mitsubishi (3%) and Osaka Gas (3%).
TotalEnergies therefore holds an indirect interest in Qalhat LNG (2.04%)
through its stake in Oman LNG.

***

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

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
its LNG production and long-term purchases by 50% by 2030, while continuing to
reduce carbon emissions and eliminating the methane emissions associated with
the gas value chain. The Company also works 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, more sustainable, 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)

@TotalEnergies
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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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