Latest news with #Pouyanne
Mint
21-07-2025
- Business
- Mint
Mozambique Nears Deal to Revive $20 Billion Total Gas Project
(Bloomberg) -- Mozambican President Daniel Chapo said he expects to soon conclude talks with TotalEnergies SE over the restart of a $20 billion natural-gas project that halted four years ago because of an Islamist-militant insurgency. Chapo recently met with Total Chief Executive Officer Patrick Pouyanne to discuss resuming the project that has the potential to transform the economy of one of the world's poorest countries, he said in a July 19 interview. 'I was with Mr. Pouyanne two weeks ago and things are going well,' Chapo said. 'In August, we will close our talks' about when to restart the project, he said. Total halted work on Mozambique LNG, located in the northeastern Cabo Delgado province, evacuated workers and declared force majeure in 2021 after an escalation in attacks in the area by Islamic State-linked militants. The raids by the insurgents — which have since prompted the deployment of troops by both Rwanda and, for a while, Mozambique's neighbors to assist — drained momentum from the development of $50 billion worth of liquefied natural-gas projects, with Eni SpA and Exxon Mobil Corp. also developing plants. 'We have the small problem of jihad, terrorism,' Chapo said. In an earlier interview with Bloomberg in Spain, the president said that the while the region is more stable than four years ago, it isn't 'heaven,' but urged a restart nevertheless. Chapo was scheduled to meet Pouyanne in Maputo, Mozambique's capital, on July 10. Companies working on the construction of Total's plant have begun preparing to resume operations, according to people familiar with the matter, while Eni is said to have awarded a contract to Samsung Heavy Industries Co. to build its Coral North floating plant, adding to its $7 billion Coral South facility, which is already operational. The gas reserves discovered 15 years ago off Mozambique's northeastern coast are among the world's biggest. Sign up here for the twice-weekly Next Africa newsletter, and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen. --With assistance from Matthew Hill and Paul Burkhardt. More stories like this are available on
Business Times
16-06-2025
- Business
- Business Times
TotalEnergies raises Malaysian gas stake in partnership with Petronas
[KUALA LUMPUR/PARIS] French energy giant TotalEnergies has acquired further stakes in Malaysian gas assets from the country's national producer Petronas, CEO Patrick Pouyanne said on Monday (Jun 16). The French energy company has been expanding its presence in gas in Asia, where it sees greater potential for sales growth as the European Union seeks to shift energy consumption towards renewables by the middle of the century. Pouyanne said at the Energy Asia conference in Kuala Lumpur the company was announcing a deal to double its gas stake in Malaysia 'because it's just perfectly located to produce energy and to serve the market'. Total will hold new interests in multiple offshore blocks, including a 50 per cent operated stake in blocks SK301b and SK313, where gas discoveries exceeding four trillion cubic feet were made. That gas will be developed to supply Malaysia LNG from 2030, according to a company statement. Petronas and TotalEnergies also signed a strategic cooperation agreement to partner in exploration and production globally. As part of that, Petronas has ceded to Total a 24.5 per cent interest in its Bobara block offshore Indonesia, which the pair will explore for oil. 'Together we will pursue and develop advantaged barrels across Malaysia's and Indonesia's frontier emerging exploration blocks,' Petronas CEO Tan Sri Tengku Taufik said. 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. REUTERS
Business Times
16-06-2025
- Business
- Business Times
TotalEnergies to double stake in Malaysian gas assets, CEO says
[KUALA LUMPUR/PARIS] French energy giant TotalEnergies has doubled its stake in Malaysian gas assets, to better meet the growing energy demands of its customers in Asia, CEO Patrick Pouyanne said on Monday (Jun 16). '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
New Straits Times
16-06-2025
- Business
- New Straits Times
TotalEnergies to deploy 30pct of capex on integrated power business, chief executive says
KUALA LUMPUR: French oil major TotalEnergies will deploy 30 per cent of its capital expenditure to build an integrated power business, its chief executive Patrick Pouyanne said on Monday. The company aims to raise the share of electricity in its portfolio to 20 per cent by 2030, Pouyanne said at the Energy Asia conference.
Time of India
12-06-2025
- Business
- Time of India
TotalEnergies forms AI partnership with French startup Mistral
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads French oil major TotalEnergies has partnered with artificial intelligence (AI) startup Mistral to build digital tools it hopes will boost the performance of its energy business and industrial assets, boost energy efficiency and reduce its environmental impact, it said on Thursday. The collaboration has already begun, with teams meeting at both companies' existing sites. No physical laboratory is planned, a TotalEnergies spokesperson will work with Total to develop an AI-powered assistant to help the energy company develop new projects, suggest decisions on running industrial sites to reduce emissions, and improve customer support solutions to help clients save energy, according to a statement."AI has huge potential to transform energy systems ... This deal reflects our intention to contribute to the emergence of a technological ecosystem in Europe," TotalEnergies CEO Patrick Pouyanne said in a this week, Mistral launched Europe's first AI reasoning model, which uses logical thinking to create a response, as the French startup tries to keep pace with U.S. and Chinese rivals at the forefront of AI has been formally collaborating with outside AI startups since 2022, when it launched a program meant to find solutions to improve the profitability of its electricity partnerships have ranged from algorithm-based predictive maintenance of wind turbines, to optimization of its electricity trading based on advanced weather models, and more precise digital planning of future renewable energy firm has also experimented with Microsoft's Copilot, a conversational AI-powered assistant, by granting employees access for six months to determine what uses were most helpful, Pouyanne said at the AI Action Summit in Paris in February.
