TotalEnergies (TTE) investor relations material

Strategic Priorities and Growth

• Targets 4% annual energy production growth through 2030, focusing on oil, gas (mainly LNG), and integrated power, with 95% of 2030 output already sanctioned or under construction.

• Emphasis on consistency, efficiency, and maximizing free cash flow, with no major strategic shifts but ongoing evolution and disciplined capital allocation.

• Streamlining investments with CapEx guidance of $14–17 billion per year, averaging $16 billion, and a $7.5 billion cash savings program for 2026–2030.

• OpEx savings targeted at $500 million per year, with a $2.5 billion program through 2030, mainly organic.

• Selective investment in low-carbon CapEx (~$4 billion/year), with $3–4 billion/year for Integrated Power.

Portfolio Management and Business Development

• Upstream growth driven by a robust pipeline of low-cost, high-margin projects, with over 12 years of proved reserves and industry-leading OPEX.

• LNG portfolio to grow 50% by 2030, reaching ~60 million tonnes, maintaining a 10% global market share and increasing flexibility, with US and Qatar projects as key drivers.

• Integrated power strategy focuses on scaling to 100–120 TWh by 2030, prioritizing flexible generation and streamlining renewables to core geographies.

• Downstream adapts to overcapacity with asset optimization, cost savings, and a value-over-volume approach in marketing and services.

• Portfolio rotation continues, with divestments in non-core assets and capital recycling in renewables.

Operational Efficiency and Technology

• Technology and digitalization, including AI and drones, are leveraged to improve safety, reduce inspection costs, and enhance operational efficiency.

• Ongoing focus on maintaining low upstream OPEX (<$5/boe) and deploying digital platforms to unlock further efficiencies.

• Battery storage and capital-light models are increasingly important, with farm-down strategies similar to renewables.