(Boursier.com) — TotalEnergies and Sonatrach signed a Memorandum of Understanding with a view to concluding a hydrocarbon contract in the North-East region of Timimoun. This Memorandum of Understanding provides for the development of a work program aimed at assessing and developing the gas resources of the North-East region of Timimoun, by capitalizing on existing processing facilities for the production of the Timimoun deposit in order to reduce costs and emissions. “This Memorandum of Understanding reflects our common desire to extend our strategic partnership with Sonatrach,” indicates Julien Pouget, Middle East and North Africa Director of the Exploration-Production branch of TotalEnergies.
Remember that during the quarter, TotalEnergies and Sonatrach extended their cooperation in the field of liquefied natural gas (LNG) by extending their contractual relationship until 2025. Thus, Sonatrach will deliver two million tonnes of LNG to TotalEnergies in 2025, at the port of Fos-Cavaou, near Marseille, which will contribute to the security of energy supply in France and Europe.
At the end of the session, the TotalEnergies share rose +1.54% to 67.83 euros after announcing in the morning that it would strengthen its natural gas production in the United States.
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