TotalEnergies (TTE) Status Update summary

Transition strategy and energy mix

• Pursuing a two-pillar strategy: low-cost, low-emission oil & gas and rapid expansion in integrated power, targeting 4% annual energy production growth through 2030.

• By 2030, the energy mix targets 40% oil, 40% gas, and 20% low-carbon electricity, with an ambition for carbon neutrality by 2050 and a projected 50% of energy from electricity and 25% from low-carbon molecules.

• Investments of $16–18 billion per year are planned, with $4–5 billion annually for integrated power and low-carbon electricity.

• All new oil & gas projects must meet strict cost and emissions intensity criteria, with a 2025 threshold of 17 kg CO₂e/boe.

• Five Levels initiative embeds sustainability into employee behaviors, focusing on energy consumption, low-carbon technologies, environment, communities, and care for colleagues.

Emissions reduction and climate action

• Achieved a 36% reduction in operated Scope 1+2 emissions since 2015, with a 2030 target of -40% and a 2025 target of 37 Mt CO₂e.

• Methane emissions were cut by 55% since 2020, with a 2025 target of -60% and a 2030 target of -80%.

• Life cycle carbon intensity of products sold dropped 16.5% by 2024; the 2030 goal is -25%.

• Scope 3 emissions are capped at less than 400 million tons by 2030, with 2024 at 342 Mt CO₂e and increased gas sales displacing more polluting fuels.

• Over $1 billion invested in energy efficiency projects (2023–2025), with another $1 billion planned for 2026–2028, reducing emissions by 1.5 Mt CO₂e/year and saving $100 million/year.

Technology, innovation, and renewables

• Digital tools and optimization have driven energy savings and emissions reductions across assets, with the Digital Factory developing 8,000+ models.

• Methane detection tech, including IoT sensors and drones, is being rolled out to over 13,000 assets by 2025.

• Fully electric LNG plants powered by renewables, modern LNG carriers, and electrification of refineries and production assets are being implemented.

• Green hydrogen supply for refineries is secured via tenders and partnerships, with over 200,000 tons contracted and a 2030 tender for up to 500,000 tons/year.

• Over $1 billion annual R&D budget, with 68% devoted to low-carbon and decarbonization solutions, and partnerships with Airbus and Air France-KLM to develop and supply SAF.