Total and Siemens Energy signed a technical collaboration agreement on April 13 to study sustainable solutions for CO2 emissions reduction. The collaboration will focus on natural gas liquefaction facilities and associated power generation.
Each partner will bring together their best-in-class technologies and combine their know-how to deliver industrial-stage solutions such as combustion of clean hydrogen in gas turbines, competitive all-electrical liquefaction, optimized power generation, the integration of renewable energy in liquefaction plants’ power system and their efficiency enhancement.
“This collaboration with Siemens Energy, a major player in the energy technology sector, brings many opportunities to further reduce the carbon footprint of our activities, especially in our strategic LNG business,” Arnaud Breuillac, President E&P at Total, said. “The development of low-carbon LNG will contribute to meet the growth in global energy demand whilst reducing the carbon intensity of the energy products consumed. Reducing its carbon footprint is essential for LNG to play its role fully in the energy transition.”
Total is the world's second largest privately owned LNG player, with a global portfolio of nearly 50 mtpa by 2025 and a global market share of around 10%. The Group benefits from strong and diversified positions throughout the LNG value chain: gas production and liquefaction, LNG transportation and trading, and contribution to the development of the LNG industry for maritime transport. Through its interests in liquefaction plants in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the United States, Australia and Angola, the Company markets LNG on all world markets.
“We are pleased to partner with Total as one of the main players in the LNG value chain to explore how we can competitively reduce the carbon footprint of brownfield and greenfield LNG projects,” Thorbjörn Fors, executive vice president of the industrial applications division at Siemens Energy, said. “The agreement is a next step, following our announcement last June to collaborate together and conduct studies exploring possible liquefaction and power generation plant designs to help decarbonize the production of LNG.”
Recommended Reading
BP Cuts Over 5% of Workforce to Reduce Costs
2025-01-16 - BP will cut over 5% of its global workforce as part of efforts to reduce costs and rebuild investor confidence.
Are Shale Producers Getting Credit for Reining in Spending Frenzy?
2024-12-10 - An unusual reduction in producer hedging found in a Haynes and Boone survey suggests banks are newly open to negotiating credit terms, a signal of market rewards for E&P thrift.
Oil, Gas and M&A: Banks ‘Hungry’ to Put Capital to Work
2025-01-29 - U.S. energy bankers see capital, generalist investors and even an appetite for IPOs returning to the upstream space.
Exxon Slips After Flagging Weak 4Q Earnings on Refining Squeeze
2025-01-08 - Exxon Mobil shares fell nearly 2% in early trading on Jan. 8 after the top U.S. oil producer warned of a decline in refining profits in the fourth quarter and weak returns across its operations.
Utica’s Infinity Natural Resources Seeks $1.2B Valuation with IPO
2025-01-21 - Appalachian Basin oil and gas producer Infinity Natural Resources plans to sell 13.25 million shares at a public purchase price between $18 and $21 per share—the latest in a flurry of energy-focused IPOs.