TotalEnergies delivers Neptune floating storage and regasification unit to Deutsche ReGas, increasing regasification capacity for German demand

TotalEnergies delivers Neptune floating storage and regasification unit to Deutsche ReGas, increasing regasification capacity for German demand

(PRESS RELEASE) PARIS, 13-Jan-2023 — /EuropaWire/ — TotalEnergies (EPA:TTE), a global multi-energy company with over 100,000 employees and presence in more than 130 countries as well as the world’s 3rd-largest low-carbon LNG company, has announced the start-up of the Deutsche Ostsee LNG import terminal for liquefied natural gas (LNG) in Lubmin, Germany. Operated by Deutsche ReGas, the site’s official inauguration will take place tomorrow, attended by German Federal Chancellor Olaf Scholz. The project, to which TotalEnergies is contributing a floating storage and regasification unit (FSRU) and supplying LNG, will make the Company one of Germany’s main LNG suppliers. The vessel has an annual regasification capacity of 5 billion cubic meters of gas, enough to cover about 5% of German demand. TotalEnergies also contracted regasification capacity of 2.6 billion cubic meters of gas per year and began to deliver LNG from its global integrated portfolio to the Lubmin terminal.

“Europe is facing a historic gas supply crisis caused by the sharp drop in flows from Russia. Since the beginning of this crisis, TotalEnergies has mobilized its LNG portfolio, which is broad and flexible, to send available LNG to Europe and to use its 18 Mt/y regasification capacity. Thanks to the start-up of the Lubmin terminal, TotalEnergies will be able to add to this effort and increase its imports to Europe to over 20 Mt/y, or about 15% of the continent’s regasification capacity. We are pleased to support this project, which will allow Germany and Europe to further secure gas supply,” said Stéphane Michel, President Gas, Renewables & Power at TotalEnergies.

TotalEnergies, the world’s third largest LNG and Europe’s leading regasification player

TotalEnergies is the world’s third largest LNG player with a market share of around 10% and a global portfolio of about 40 Mt/y thanks to its interests in liquefaction plants in all geographies. The Company benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 Mt/y of regasification capacity in Europe, trading, and LNG bunkering. TotalEnergies’ ambition is to increase the share of natural gas in its sales mix to 50% by 2030, to reduce carbon emissions and eliminate methane emissions associated with the gas value chain, and to work with local partners to promote the transition from coal to natural gas.

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About TotalEnergies

TotalEnergies is a global multi-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 energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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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. TotalEnergies SE has no liability for the acts or omissions of these 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 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).

SOURCE: TotalEnergies

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