TotalEnergies to double stake in Malaysian gas assets, CEO says
'We produce gas, and this afternoon we'll announce a new deal to double the stake in Malaysia, because it's just perfectly located to produce energy and to serve the market,' Pouyanne said at the Energy Asia conference in Kuala Lumpur.
The company did not immediately reply to a request for clarification on the details of the deal.
Last year TotalEnergies acquired 100 per cent of SapuraOMV Upstream, an independent gas producer in Malaysia whose main assets are operating interests in offshore blocks SK408 (40 per cent) and SK310 (30 per cent).
The French company also signed liquefied natural gas contracts worth about six million tonnes in 2024, mostly to Asian clients, which Pouyanne on Monday said formed 'the core' of Total's LNG business as sales to Europe diminish over time.
Total will also deploy 30 per cent of its capital expenditure to build an integrated power business, Pouyanne added, with the goal of raising the share of electricity in its portfolio to 20 per cent by 2030. REUTERS
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