Total Delivers its First Carbon Neutral LNG Cargo
October 20 2020 - 2:15AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has delivered its first
shipment of carbon neutral1 liquefied natural gas (LNG) to the
Chinese National Offshore Oil Corporation (CNOOC).
The loading operation was carried out at the Ichthys
liquefaction plant in Australia, and the shipment was delivered on
September 29 to the Dapeng terminal, China.
“We are proud to have completed this first shipment of carbon
neutral LNG with CNOOC, a long-standing partner of Total. This
first LNG shipment, whose carbon emissions have been offset
throughout the value chain, represents a new step as we seek to
support our customers towards carbon neutrality,” explains
Laurent Vivier, President for Gas at Total. “The development of
LNG is essential to meet the growth in global demand for energy
while reducing the carbon intensity of the energy products
consumed.”
The carbon footprint of the LNG shipment was offset with VCS
(Verified Carbon Standards) emissions certificates financing two
projects:
- Hebei Guyuan Wind Power Project, which aims to reduce
emissions from coal-based power generation in northern China.
- Kariba REDD+ Forest Protection Project, which aims to
protect Zimbabwe's forests
* * *
Total, Second Largest Private Global LNG Player
Our Group has made natural gas, the least pollutant of all
fossil fuels, a cornerstone of its strategy to meet a growing
global demand for energy while helping to mitigate climate change.
We are focusing in particular on LNG, which can be easily
transported and delivered as close as possible to consumer markets.
Total is present across the entire LNG value chain, from production
and liquefaction of natural gas to LNG shipping and trading,
regasification using terminals and floating storage regasification
units (FSRUs) and contributes to the development of the LNG sector
for maritime transportation.
Total is the second-largest global LNG stakeholder in the
private industry, with an overall portfolio of nearly 50 Mt/year by
2025 and a worldwide market share of 10%. With over 34 Mt of LNG
sold in 2019, the Group has solid and diversified positions across
the LNG value chain. The Group sells LNG in all world markets via
its stakes in liquefaction plants in Qatar, Nigeria, Russia,
Norway, Oman, Egypt, the United Arab Emirates, the United States,
Australia and Angola.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
* * * * *
Cautionary Note This press release, from which no legal
consequences may be drawn, is for information purposes only. The
entities in which TOTAL SE directly or indirectly owns investments
are separate legal entities. TOTAL SE has no liability for their
acts or omissions. In this document, the terms “Total”, “Total
Group” and Group 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 TOTAL 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.
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1 The term “carbon neutral” indicates that Total and CNOOC have
offset the amount of carbon dioxide equivalent associated with the
whole carbon footprint of the LNG Cargo (including the production,
liquefaction, shipping, regasification, and end-use) through VCS
certified emission reduction projects.
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