TotalEnergies further extends its forecasts for increased oil and gas production

Where a scientific consensus calls for a move away from fossil fuels, TotalEnergies, like other players in this industry, is further extending its forecasts for an increase in production. The Defense multinational (Hauts-de-Seine) now plans to put approximately 3% more hydrocarbons (oil and gas) on the market each year by 2030. Its growth would even be higher than this percentage. in 2025 and 2026. This is what it announced on Wednesday October 2 in New York, as part of the annual presentation of its strategy. And this is therefore more than the projections made a year ago: there was talk of an objective of between 2% and 3% more per year until 2028.

This upward revision reflects ” mostly “ to liquefied natural gas (LNG), explains the firm in a press release. She mentions the launch of “six major projects” in this area, in 2024: two in Brazil, the others in Suriname, Angola, Oman and Nigeria.

The LNG, first cooled to a temperature of around −162 degrees, is transported by ship before being regasified. It allows energy to be marketed to the highest bidder. “New oil projects are necessary to meet demand and maintain prices at an acceptable level, so as to create the conditions for a just transition giving populations time to adapt their use of energy”the group also responds.

“A two-point climate destruction plan”

For the moment, at TotalEnergies, oil still occupies first place. Or 52% of the group’s final energy production in 2023, according to data transmitted to the Mondeagainst almost 42% for fossil gas, whether liquefied or not; not counting a small share of electricity from gas. This all represents a total of approximately 2.5 million barrels of oil equivalent per day. Enough to rank the French multinational fourteenth among hydrocarbon producers that year, according to the Norwegian consulting firm Rystad Energy.

By 2030, according to internal forecasts, the trend could be balanced between “black gold” and methane. The relative share of fossil gas, supposed to emit less greenhouse gas, would be around 40%. Like oil. Not counting, again, electricity from gas.

As for electricity from renewable energies, such as solar and wind, its production would quintuple by the end of the current decade. But this share would remain minimal, since it could increase from almost 3% in 2023 to almost 13%, seven years later, of the group’s production.

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