REG-TOTAL Russia: TotalEnergies Partners with Novatek on LNG Decarbonization, Hydrogen and Renewables

TotalEnergies SEAnnouncement

03/06/2021 14:40

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Russia: TotalEnergies Partners with Novatek on LNG Decarbonization, Hydrogen
and Renewables

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TOT) and Novatek have signed a
Memorandum of Understanding (MoU) to jointly work on sustainable reductions of
the CO₂ emission resulting from the production of liquefied natural gas
(LNG) including with the use of renewable power, to develop large-scale carbon
capture and storage solutions (CCS) and to explore new opportunities for
developing decarbonized hydrogen and ammonia. This partnership will leverage
the significant low-cost resources of the Yamal and Gydan peninsulas and their
large potential for geological storage.

Each partner will bring its best-in-class technologies and combine its
know-how to explore and develop projects that will help reduce the carbon
footprint of the LNG value chain, using:


 * carbon capture and storage (CCS),


 * energy efficiency,


 * renewable sources of power,


 * marketing of carbon-neutral LNG,


 * and clean hydrogen & ammonia.

"We are very pleased to begin a new chapter in our cooperation with our
long-standing strategic partner Novatek. Our two companies are joining forces
to deliver sustainable solutions to reduce emissions from our LNG projects and
to provide low carbon LNG to our customers,” said Patrick Pouyanné,
Chairman and CEO of TotalEnergies, on the occasion of his visit to the Saint
Petersburg International Economic Forum. “In line with our transformation
strategy and our ambition to be a major player in the energy transition, we
want to be a leader in low-carbon LNG.”

TotalEnergies is a 19.4% shareholder in Novatek and holds a 20% stake in Yamal
LNG, a project that started up in December 2017 and produced more than 18.8
million tons of LNG in 2020. The company also holds a 10% stake in Arctic LNG
2, a project currently under construction and on track to deliver its first
LNG cargo in 2023.

TotalEnergies, Second Largest Global LNG Player

TotalEnergies is the world's second largest publicly traded LNG player, with a
global portfolio of nearly 50 Mt/y by 2025 and a global market share of around
10%. Thanks to its interests in liquefaction plants in Angola, Australia,
Egypt, the United Arab Emirates, the United States, Nigeria, Norway, Oman,
Russia and Qatar, the company markets LNG on all world markets. TotalEnergies
also benefits from strong and diversified positions throughout the LNG value
chain, including gas production, LNG transportation, LNG trading, and some
recent development in the LNG industry for maritime transport.

____

About TotalEnergies

TotalEnergies is a broad energy company that produces and markets energies on
a global scale: oil and biofuels, natural gas and green gases, renewables and
electricity. Our 105,000 employees are committed to energy that is ever more
affordable, clean, 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.

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. In this document, the terms
“TotalEnergies”, “TotalEnergies “Company” and “Company” are
sometimes used for convenience. 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.

TotalEnergies

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

Investor Relations: +44 (0)207 719 7962 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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