(Boursier.com) — TotalEnergies strengthens its partnership with Sonatrach. On the occasion of the meeting on July 9 in Algiers between Patrick Pouyanné, Chairman and CEO of TotalEnergies, and Toufik Hakkar, Chairman and CEO of Sonatrach, several agreements were signed to strengthen cooperation between the two companies in the production of natural gas in Algeria, in the delivery of liquefied natural gas (LNG) to Europe, as well as in the development of renewable energies in Algeria.
Through an initial agreement submitted for the approval of the Algerian authorities, Sonatrach and TotalEnergies have decided to convert the production contracts for the Tin Fouyé Tabankort II (TFTII) and Tin Fouyé Tabankort Sud (TFT sud) gas fields located in the south of Algeria (Sonatrach 51%, TotalEnergies 49%) under the new Algerian oil law promulgated on December 11, 2019.
In this context, Sonatrach and TotalEnergies will continue the investment program already initiated to increase gas production from the TFTII and TFT South fields, including the extension of existing facilities and the commissioning of new wells. The combined production of these two fields is expected to exceed 100,000 barrels of oil equivalent per day by 2026, compared to around 60,000 in 2022, thus contributing to the increase in the potential for Algerian gas exports to the European market.
Through a second agreement, Sonatrach and TotalEnergies have extended for the year 2024 the deliveries by Sonatrach of 2 million tonnes per year of LNG to TotalEnergies at the port of Fos-Cavaou, in the Marseille region, in France. These deliveries of liquefied natural gas contribute directly to the security of energy supply in France and, more broadly, on the European continent.
According to a third agreement, the two groups will cooperate to develop renewable energy production projects in Algeria, and in particular: renewable projects to solarize hydrocarbon exploration and production sites; a study on the potential of renewable and low-carbon hydrogen for the export market; a research and development program in low-carbon energies and energy transition.
“I am delighted with the signing of these new agreements with our strategic partner SONATRACH. They bear witness to TotalEnergies’ attachment to Algeria, whose resources directly contribute to securing Europe’s energy supply. We are also happy to be able to support Algeria in its energy transition and in the development of its potential in terms of renewable energy production”, declared Patrick Pouyanné, CEO of TotalEnergies.
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