TotalEnergies: biomethane partnership with BlackRock

(CercleFinance.com) - TotalEnergies announced on Wednesday that it will partner with Vanguard Renewables, a portfolio company belonging to BlackRock's infrastructure business, to develop biomethane in the US.


The French energy group and the US asset manager have signed an agreement to create a 50/50 joint venture to build and operate farm-based biomethane projects.

They have immediate plans for ten projects, with a combined annual capacity of 0.8 TWh, and aim to start construction within the next 12 months.

Of these, three initial projects, each with a capacity of almost 75 GWh per year, have already entered the construction phase in the states of Wisconsin and Virginia.

Beyond these first ten projects, Total and BlackRock plan to co-invest in a pipeline of some sixty potential projects across the country, for a total capacity of 5 TWh per year.

In the Republic of Congo, TotalEnergies reports that it has decided to dispose of two mature assets in order to increase its interest in the giant Moho field.

The agreement with Trident Energy covers the simultaneous sale of a 53.5% interest in the Nkossa and Nsoko II permits, and the acquisition of an additional 10% interest in the Moho permit.

While the Nkossa and Nsoko II offshore fields - located 70 kilometers offshore - came on stream in 1996 and 2006 respectively, the Moho field - operated in deep water 80 kilometers offshore - has seen a significant increase in production in recent years.

On completion of these transactions, TotalEnergies will control a 63.5% interest in Moho, with Trident Energy holding a 21.5% interest in the project.


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