Totalenergies Updates

Totalenergies’ CEO, Patrick Pouyanne, has stated that the company will not expand its battery production, instead focusing on its existing factory in France. This decision has led to a positive outlook for the company’s stock, with analysts predicting further growth.

LNG Deal with Shell

Totalenergies has secured a major LNG deal with Shell, acquiring 60 cargoes of liquefied natural gas to meet Egypt’s demand for 2025. The deal is valued at approximately $3 billion and is expected to support Egypt’s transition from a net exporter to a net importer of natural gas.

Litigation and Supplier Rejection

Totalenergies has faced criticism from employees who have filed a lawsuit against the company, alleging exposure to benzene in the workplace. Additionally, the company’s stock has been affected by a rejection from Venture Global, a US-based LNG supplier, citing a lack of trust.

Energy Strategy

Totalenergies’ balanced energy strategy, combining clean sources and gas-fired production, has been a key factor in the company’s success. This approach has allowed Totalenergies to maintain its profitability, even as rivals pull back from renewable energy investments.

Key Developments

• Totalenergies will not expand its battery production, focusing on its existing factory in France.
• The company has secured a major LNG deal with Shell, valued at approximately $3 billion.
• Totalenergies has faced criticism from employees who have filed a lawsuit against the company.
• The company’s stock has been affected by a rejection from Venture Global, a US-based LNG supplier.