Algeria: TotalEnergies Expands Its Partnership with SONATRACH in Timimoun Region and in the Marketing of LNG
April 08 2024 - 11:05AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and SONATRACH
have signed a Memorandum of Understanding with the aim of
concluding a hydrocarbon contract in the north-east Timimoun
region, under the aegis of Law n°19-13 governing hydrocarbon
activities.
This Memorandum of Understanding outlines the realization of a
work program for the appraisal and development of gas resources in
the North-East Timimoun region, in synergy with existing processing
facilities for production from the Timimoun field, to reduce costs
and emissions.
"This Memorandum of Understanding reflects our shared
willingness to expand our strategic partnership with SONATRACH",
said Julien Pouget, Senior Vice President Middle East &
North Africa, Exploration & Production at
TotalEnergies.
Earlier this year, TotalEnergies and SONATRACH have extended
their cooperation in the field of liquefied natural gas (LNG) by
extending their contractual relationship until 2025. In 2025,
SONATRACH will thus be delivering two million tonnes of LNG to
TotalEnergies at the port of Fos-Cavaou, near Marseille, which will
contribute directly to the security of energy supply in France and
Europe.
***
About TotalEnergies in Algeria TotalEnergies is a
long-standing player in the Algerian energy sector. Present in the
country through its various subsidiaries. The Company is active in
oil and gas exploration and production through its interests in the
Tin Fouyé Tabankort and Timimoun gas fields, the Berkine Basin oil
fields (Blocks 404a and 208) and liquefied natural gas via supply
contracts with Sonatrach. In 2023, the Company produced 51 kboe/d
(group share) in Algeria through its interests in the TFT II and
Timimoun gas fields and in the Berkine Basin oil fields (blocks
404a and 208). Downstream, TotalEnergies Lubrifiants Algérie SPA
and TotalEnergies Bitumes Algérie SPA market lubricants and
bitumen. This integrated model ensures synergies between the
various activities and provides a comprehensive offering based on
innovation, complementarity, and value creation. TotalEnergies is
committed to supporting economic development by launching new
investment programs that contribute to the country's
development.
About TotalEnergies TotalEnergies is a global integrated
energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries,
TotalEnergies places sustainability at the heart of its strategy,
its projects and its operations.
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Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. 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 TotalEnergies 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. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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