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TotalEnergies: presents strategy and outlook

( - Patrick Pouyanné, Chairman and CEO of TotalEnergies, and the members of the Executive Committee today presented the Company's strategy and outlook in New York.

TotalEnergies plans to increase its hydrocarbon production by 2% to 3% p.a. over the next five years.

It will develop its pipeline of LNG projects (Qatar North Field Expansion, Papua LNG, ECA LNG and Rio Grande in the United States, Mozambique LNG) and strengthen its position as the leading regasification company in Europe and the largest LNG exporter in the US.

The Oil & Gas businesses should also generate over $3bn in additional structural cash flow in 2028 compared with 2023 at constant prices.

TotalEnergies says that it intends to replicate its integrated Oil & Gas model across the power value chain, in order to achieve ROACE of around 12% for the Integrated Power segment, equivalent to the profitability of its Oil & Gas activities at $60/bl, which is therefore higher than the traditional Utilities model, it says.

The Company plans to increase its electricity production to more than 100 TWh by 2030 by investing $4bn per year; cash flow generation in this sector will be around $2bn in 2023 and over $4bn in 2028, with the Integrated Power sector becoming net cash positive by this time, management adds.

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