Core Viewpoint - Chile's Magallanes region has introduced two major green hydrogen projects in the past year, focusing on the production and export of green ammonia [1] Group 1: Project Details - The first project is led by the HNH Energy Consortium, which includes AustriaEnergy, ?kowing, and Copenhagen Infrastructure Partners, with an investment of $11 billion to produce and export green ammonia [1] - This project will be executed in two phases, with the first phase expected to begin construction in 2028, featuring 1.4 GW of wind power and 1 GW of electrolyzers, aiming for an annual production of 580,000 tons of green ammonia [1] - The environmental impact assessment (EIA) for this project started in July 2024, and supplementary materials will be submitted this week [1] Group 2: TotalEnergies Project - The second project is owned by TotalEnergies, which began its EIA in May this year, marking a record investment of $16 billion in Chile's EIA system for a single project [1] - The project manager indicated that the company's strategic focus in Chile is entirely on this green ammonia project, and preparations for supplementary EIA materials are currently underway [1]

Core Viewpoint - TotalEnergies SE (TTE) has signed a Heads of Agreement with South Korea's KOGAS for the annual delivery of 1 million tons of liquefied natural gas (LNG) over a 10-year period starting at the end of 2027 [1] Group 1: Deal Details - From 2028 onward, TotalEnergies will supply KOGAS with 3 million tons of LNG annually, sourced from its global supply portfolio, particularly from the United States [2][10] - The deal enhances TotalEnergies' position in the LNG market and ensures a consistent, long-term revenue stream [2] Group 2: Market Context - The contract emphasizes supply diversification, aligning with trends toward stable, long-term contracts amid geopolitical unpredictability [3] - According to Shell's LNG Outlook 2025 report, global demand for LNG is expected to rise by approximately 60% by 2040, driven by economic growth in Asia and emission reduction efforts [4] Group 3: Company Strategy - TotalEnergies aims to increase the share of natural gas in its sales mix to nearly 50% by 2030 while reducing carbon emissions and eliminating methane emissions associated with the gas value chain [7][10] - The company has a global LNG portfolio of 40 million tons per annum (Mtpa) in 2024 and continues to expand its LNG operations through acquisitions and partnerships [6] Group 4: Industry Outlook - The rising demand for LNG is expected to benefit companies like Cheniere Energy and BP, which are significant players in the global LNG supply [8] - Cheniere Energy has increased its run-rate LNG production forecast by over 10% and is projected to see a 32% year-over-year increase in sales for 2025 [9] - BP aims for a 25 million tons per annum target by 2025, with a projected 13.8% year-over-year increase in sales [11]

Core Viewpoint - TotalEnergies has secured a long-term contract with KOGAS for the supply of liquefied natural gas (LNG), enhancing its position in the Asian market and diversifying its supply sources [1][2][3]. Group 1: Contract Details - TotalEnergies will supply one million tonnes per annum (mtpa) of LNG to KOGAS for a duration of ten years, starting from the end of 2027 [1]. - The agreement will increase TotalEnergies' total LNG supply to KOGAS to 3 mtpa from 2028 [2]. - The LNG will be sourced from TotalEnergies' global supply portfolio, with a significant portion coming from its US LNG production [3]. Group 2: Strategic Implications - This contract allows TotalEnergies to secure long-term outlets in Asia, aligning with the growth of its LNG supply, particularly from the United States [2]. - KOGAS aims to enhance the economic value of its LNG portfolio and diversify its sources of supply through this agreement [3]. - The engagement reflects a commitment to securing a stable LNG supply amid a changing global energy landscape [4]. Group 3: Recent Developments - This announcement follows a previous agreement in April where TotalEnergies committed to supply 400,000 tonnes per annum of LNG to Energia Natural Dominicana over a 15-year period [4].

Welcome to the conversation. It's great to have you on the program today. Good morning.Let's begin with the breaking news out of France. France's government has collapsed as I'm sure you've seen. Is this another political crisis of President Mccron's own making.Okay. You know, it's I'm here to speak about energy. French politics are it's a democracy.We have to respect the voice of the people and then I think the president will take the right decisions for the country. Walk me through your message to Preside ...

Core Viewpoint - TotalEnergies emphasizes that the cost of Argentine natural gas must be below $10 per million British thermal units (mmBtu) to remain competitive in the Brazilian market [1] Company Summary - Sergio Mengoni, the Argentina country chair of TotalEnergies, highlighted the importance of pricing for Argentine natural gas in relation to its competitiveness in Brazil [1]

Core Viewpoint - TotalEnergies has acquired a significant offshore exploration license in the Republic of Congo, which is expected to enhance oil and gas supply levels in West Africa [1] Group 1: Exploration License Details - The Nzombo block covers an area of 1,000 square kilometers [1] - TotalEnergies holds a 50% stake in the block, while Qatar Energy owns 35% and the Congolese National Oil Company holds 15% [1] Group 2: Strategic Importance - The Nzombo block is located approximately 100 kilometers (62 miles) from the Black Point coast, adjacent to the Moho oil field, which produces around 100,000 barrels of oil equivalent per day [1] - TotalEnergies' exploration senior vice president, Kevin McLachlan, stated that the Nzombo block has significant potential and aligns with the company's strategy to expand its exploration portfolio through high-potential projects [1] - The development of the Nzombo block will leverage existing facilities, further strengthening the long-term partnership with the Republic of Congo [1]

Group 1 - The 39th Barclays Energy and Power Conference is taking place in New York, featuring Patrick Pouyanne, Chairman and CEO of TotalEnergies [1] - Patrick Pouyanne is unable to attend in person due to commitments at the Frankfurt German Summit but is participating remotely [2] - Pouyanne is scheduled to be in New York for a Capital Markets update on September 29 [3]

Financial Data and Key Metrics Changes - TotalEnergies aims for a free cash flow growth of $10 billion by 2030 at a price of $70 per barrel, with an expected increase of $1 billion in 2025 [24][47] - The company anticipates a reduction in capital expenditures (CapEx) from 18% to 16% in the future, contributing to free cash flow growth [46] Business Line Data and Key Metrics Changes - The oil and gas segment is projected to grow at 3% per year, while cash flow is expected to grow at 8% due to the introduction of more profitable barrels [19][20] - TotalEnergies plans to allocate 75% of its investments to oil and gas and 25% to integrated power, indicating a focus on maintaining a strong position in traditional energy while transitioning to renewables [12][15] Market Data and Key Metrics Changes - The company has a proven reserve ratio of 12.4 years, which is competitive compared to peers [31] - TotalEnergies is exploring opportunities in Namibia and South Africa, with a focus on building a diversified geographical footprint to mitigate geopolitical risks [30][37] Company Strategy and Development Direction - The company emphasizes a two-pillar strategy: oil and gas, and integrated power, with a long-term goal of achieving an 80% oil and gas and 20% electricity mix by 2030 [15][16] - TotalEnergies is committed to maintaining a strong balance sheet and low breakeven costs, focusing on value creation over volume [5][8] Management's Comments on Operating Environment and Future Outlook - Management believes the energy transition will take longer than anticipated, as customers prioritize affordable energy [6] - The company is confident in its ability to deliver growth and cash flows, despite external market pressures [60][61] Other Important Information - TotalEnergies has maintained a consistent dividend policy, increasing dividends by 7% annually over the past three years [51] - The company is committed to returning at least 40% of cash flow from operations to shareholders, with ongoing share buybacks [49][52] Q&A Session Questions and Answers Question: What defines success for an energy company in the next decade? - Management highlighted the importance of a consistent strategy, strong balance sheet, and the ability to manage both oil and gas and the transition to integrated power [4][5] Question: Can TotalEnergies achieve its return on capital employed target in the integrated power business? - Management confirmed that the integrated power segment is expected to be net cash positive by 2028, with a target return of 11-12% by 2030 [39][40] Question: How does TotalEnergies plan to manage shareholder returns amidst market fluctuations? - Management reiterated their commitment to dividends and share buybacks, emphasizing a balanced approach to capital allocation [51][54]

Financial Data and Key Metrics Changes - TotalEnergies aims for a free cash flow growth of $10 billion by 2030 at a price of $70 per barrel, with cash flow expected to grow by $1 billion in 2025 and accelerate thereafter [23][46] - The company has maintained a dividend growth of 7% per year over the last three years, with a commitment to return at least 40% of cash flow from operations to shareholders [50][51] Business Line Data and Key Metrics Changes - The oil and gas segment is expected to grow at 3% per year, while the integrated power business is projected to generate €2.5 billion annually, with a CapEx of €4 billion [14][39] - The company has a strong focus on low-cost projects, with a breakeven target of less than $30 per barrel for new projects [20][21] Market Data and Key Metrics Changes - TotalEnergies has a proven reserve ratio of over 12 years, which is competitive compared to peers [30] - The company is actively exploring new opportunities in Namibia and South Africa, with a focus on maintaining a diverse geographical footprint [29][34] Company Strategy and Development Direction - The company operates on a two-pillar strategy, focusing on oil and gas (75% of investments) and integrated power (25%), aiming for a balanced portfolio [12][15] - TotalEnergies is committed to transitioning towards integrated power while maintaining profitability in its oil and gas operations [7][14] Management's Comments on Operating Environment and Future Outlook - Management believes the energy transition will take longer than anticipated due to customer demand for affordable energy [6] - The company is confident in its ability to deliver growth and cash flows, despite external market pressures [59][60] Other Important Information - TotalEnergies is focusing on gas-to-power solutions, which are seen as a growing market opportunity [16][40] - The company has divested from non-core projects that do not meet its investment criteria, ensuring a disciplined approach to portfolio management [21][22] Q&A Session All Questions and Answers Question: What defines success for an energy company in the next decade? - Management emphasized the importance of a consistent strategy, strong balance sheet, and low-cost operations as key factors for success [4][5] Question: Can you elaborate on the two-pillar approach of TotalEnergies? - The two pillars consist of oil and gas, which is the primary focus, and integrated power, which is a growing segment aimed at balancing the portfolio [12][15] Question: How does TotalEnergies plan to achieve its cash flow targets? - The company expects cash flow to grow faster than production volume, driven by low-cost projects and disciplined capital expenditure [19][45] Question: What is the outlook for shareholder returns? - TotalEnergies is committed to maintaining a strong dividend policy and returning a significant portion of cash flow to shareholders, with a focus on buybacks [50][51]

Core Insights - TotalEnergies SE (TTE) has signed a production sharing contract for offshore exploration licenses PPL2000 and PPL2001 in Nigeria, holding an 80% stake alongside partner South Atlantic Petroleum, which holds 20% [1][10] - The exploration licenses cover approximately 772 square miles (2,000 square kilometers) and include a work program for drilling one firm exploration well [2][10] - TotalEnergies aims to enhance its exploration portfolio with low-cost and low-emissions offshore opportunities, aligning with its strategy to focus on high-impact prospects [3][10] Exploration Strategy - The acquisition of the Nigerian licenses is part of TotalEnergies' broader strategy to grow its exploration portfolio, which includes recent initiatives in the Republic of the Congo and offshore U.S. [4][5] - The company is also expanding its presence in Southeast Asia by acquiring interests in offshore blocks in Malaysia and Indonesia, focusing on gas and liquefied natural gas [5] Industry Context - Offshore exploration is critical for oil and gas companies, providing access to vast and unexplored resources, which are essential for meeting global energy demand [6] - Competitors like Murphy Oil Corporation and ExxonMobil are also pursuing offshore exploration opportunities, indicating a competitive landscape in this sector [6][9] Stock Performance - In the past month, TotalEnergies' shares have increased by 5.2%, compared to a 6.1% growth in the industry [11]