TotalEnergies: group unveils strategy and outlook
(CercleFinance.com) - Patrick Pouyanné, Chairman and CEO of TotalEnergies, and the members of the Executive Committee have presented the company's strategy and outlook today in Paris.
It will increase its energy production by 30% by 2030, with half of the growth coming from mainly renewable electricity and half from liquefied natural gas.
TotalEnergies will maintain its investment program of 13 to 15 billion dollars per year over 2022-2025 and will allocate 50% of these investments to the growth of its businesses, 50% to the maintenance of its business base. The group also aims to be net zero by 2050.
Upstream production is expected to grow by about 3% per year by 2026, driven by LNG which is expected to grow by 6% per year. TotalEnergies' oil production will peak this decade, before declining. Liquefied natural gas production is expected to increase by 30% by 2025, with sales reaching 50 Mt/year, or 10% of the global market. TotalEnergies will increase biogas production, with a target of 2 TWh per year by 2025, management said.
Finally, the group aims to become one of the world's top 5 producers of renewable electricity and has a target of 100 GW of gross installed capacity by 2030.
The market seems to like these comments - the share is currently up almost 2% in a market that is down about 1.5% in Paris.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
It will increase its energy production by 30% by 2030, with half of the growth coming from mainly renewable electricity and half from liquefied natural gas.
TotalEnergies will maintain its investment program of 13 to 15 billion dollars per year over 2022-2025 and will allocate 50% of these investments to the growth of its businesses, 50% to the maintenance of its business base. The group also aims to be net zero by 2050.
Upstream production is expected to grow by about 3% per year by 2026, driven by LNG which is expected to grow by 6% per year. TotalEnergies' oil production will peak this decade, before declining. Liquefied natural gas production is expected to increase by 30% by 2025, with sales reaching 50 Mt/year, or 10% of the global market. TotalEnergies will increase biogas production, with a target of 2 TWh per year by 2025, management said.
Finally, the group aims to become one of the world's top 5 producers of renewable electricity and has a target of 100 GW of gross installed capacity by 2030.
The market seems to like these comments - the share is currently up almost 2% in a market that is down about 1.5% in Paris.
Copyright (c) 2021 CercleFinance.com. All rights reserved.