TotalEnergies to Champion Multi-Energy Investment Strategy at IAE 2024

Source: www.gulfoilandgas.com 4/8/2024, Location: Africa

Affirming TotalEnergies’ long-standing commitment to Africa’s energy development, Senior Vice President for Africa Mike Sangster will deliver an opening keynote at Invest in African Energy (IAE) 2024 – a two-day investment forum taking place in Paris next month.

TotalEnergies represents one of the leading investors on the African continent and is currently spearheading a diversified, multi-energy approach targeting enhanced energy securityand distribution to local and regional markets. In Nigeria,the company started production from the Akpo West field last February – set to produce an additional 140 million cubic feet of gas per day by2028 – and has announced plans to invest $6 billion in Nigeria’s gas production and deep offshore in the next few years. In Angola, the company is developing the Quiluma and Maboqueiro gas fields – Angola’s first non-associated natural gas projects – which will supply gas to the Angola LNG plant in Soyo to produce up to four billion cubic feet per year by 2026.

IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.invest-africa-energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

In Africa’s emerging oil and gas markets, the company is forging new frontiers in LNG, green hydrogen and upstream exploration. TotalEnergies is in the process of restarting its $20-billion Mozambique LNG project in 2024, as well as taking FID on a new LNG import terminal at the Port of Matola, which could enable first LNG exports to South Africa upon its completion. In Namibia – where the company invested half of its 2023 exploration budget – TotalEnergies is appraising its Venus-1 discovery and yielded another hydrocarbon discovery at the Mangetti-1X well last February. The company also acquired a new exploration license in Block 3B/4B offshore South Africa last month, located within the prolific Orange Basin.

In Mauritania, TotalEnergies and partner Chariot Energy recently concluded feasibility studies on a planned 2.3 million-ton-per-annum green hydrogen facility set to export hydrogen to Europe, as well as present offtake options for green steel and green ammonia production. Meanwhile, company subsidiary Total Eren has secured 1,700 km² in Morocco’s Guelmim-Oued Noun region to develop a $9.9-billion green hydrogen project, leveraging10 GW of wind and solar power.

“At IAE 2024, the company will showcase its latest project developments, as well as connect with local and international service providers. TotalEnergies’ latest investments indicate that European and global energy majors remain deeply committed to bringing energy access to the continent and that oil and gas investment in Africa is not just stabilizing, but accelerating,” says Sandra Jeque, Event & Project Director at IAE 2024 organizers, Energy Capital & Power.


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