TotalEnergies SE 6-K, filed Feb 1, 2021
TotalEnergies SE (TTE)
About this 6-K
TotalEnergies SE filed this 6-K on February 1, 2021.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
February 1, 2021
Commission File Number 001-10888
TOTAL SE
(Translation of registrant’s name into English)
2, place Jean Millier
La Défense 6
92400 Courbevoie
France
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
TOTAL SE is providing on this Form 6-K a description of certain recent developments relating to its business.
TABLE OF CONTENTS
SIGNATURES
EXHIBIT INDEX
| Exhibit 99.1 | Total Acquires Fonroche Biogaz and Becomes the French Leader in Renewable Gas (January 11, 2021) |
|---|---|
| Exhibit 99.2 | Total and Engie partner to develop France’s largest site for the production of green hydrogen from 100% renewable electricity (January 13, 2021) |
| Exhibit 99.3 | Total, new operator of Block 58 offshore Suriname, announces a fourth discovery (January 14, 2021) |
| Exhibit 99.4 | Total and 174 Power Global to Jointly Develop 1.6 GW of Solar and Energy Storage Projects in the U.S. (January 14, 2021) |
| Exhibit 99.5 | Total withdraws from the American Petroleum Institute (January 15, 2021) |
| Exhibit 99.6 | India: Total to Acquire from Adani a 20% Interest in the Largest Solar Developer in the World (January 18, 2021) |
| Exhibit 99.7 | Nigeria: Total completes sale of its interest in onshore OML 17 (January 18, 2021) |
| Exhibit 99.8 | Total Has Successfully Issued Hybrid Bonds To Finance Its Development Strategy in Renewables (January 18, 2021) |
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TOTAL SE | ||
|---|---|---|
| Date: February 1, 2021 | By: | /s/ ANTOINE LARENAUDIE |
| Name: Antoine LARENAUDIE | ||
| Title: Group Treasurer |
EX-99.1
EXHIBIT 99.1
Press Release
Total Acquires Fonroche Biogaz and Becomes the French Leader in Renewable Gas
Paris, January 11, 2021 – Total announces the acquisition of Fonroche Biogaz, a company that designs, builds and operates anaerobic digestion units in France. With close to 500 gigawatt-hours (GWh) of installed capacity, which doubled between 2019 and 2020, Fonroche Biogaz is today the French market leader in the production of renewable gas^1^ with more than 10% market share thanks to a portfolio of seven units in operation and a pipeline of four imminent projects.
Drawing on the expertise of its 85 employees, Fonroche Biogaz has developed industrial and technological expertise across the entire renewable gas value chain. Its integration marks a significant step in Total’s development on the renewable gas market, with prospects for rapid growth on the French market and for international deployment.
“This acquisition is consistent with our strategy and our climate ambition to get to Net Zero by 2050. We believe that renewable gas has a key role to play in the energy transition as it contributes to reducing the carbon intensity of natural gas – and we support the imposition of renewable gas incorporation in natural gas networks,” explains Philippe Sauquet, President Gas,Renewables & Power at Total. “In 2020, we stated our intention to contribute to the development of this sector, which we expect to become more competitive in the next few years. We intend to produce 1.5 terawatt-hours (TWh) of biomethane a year by 2025 and Fonroche Biogas is therefore the cornerstone of our development in this market.”
“We are proud to join the Total Group, which has shown strong vision and ambition, by launching a massive and sustainable investment program in renewable energies. Our integrated business model combined with Total’s strength and global reach gives us a positive and sustainable outlook for the future. Their excellent track record in the solar sector – both in terms of the duration of their investments and their strong growth – has confirmed our decision to combine the expertise of Fonroche Biogaz teams with this French energy major,” said Yann MAUS, President and Founder of Fonroche Group.
With this acquisition, Total becomes a major player in renewable gas in France and Europe, and significantly strengthens its presence in the sector, already effective through its affiliates Méthanergy (combined heat and power production from biogas), PitPoint and Clean Energy (biomethane production and distribution via a network of Bio-CNG/Bio-LNG stations) in Benelux and the United States respectively. In December 2020, Total signed a Memorandum of Understanding (MoU) with Clean Energy to establish a $100 million 50/50 joint venture to develop renewable gas production projects in the United States. By 2030, Total plans to produce 4 to 6 TWh of biomethane a year.
| ^1^ | Biogas is a renewable gas produced by the fermentation of organic matter. It can be purified to produce<br>biomethane, which has the same properties as natural gas and can therefore be injected into distribution networks or used as an alternative fuel for mobility (bio-CNG or bio-LNG). |
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About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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Total Contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Business Contact: gp.biogas@total.com
Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly orindirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words“we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
Thisdocument may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and aresubject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of newinformation, future events or otherwise.
EX-99.2
EXHIBIT 99.2
Press Release
Total and Engie partner to develop France’s largest site for the production of green hydrogen from 100% renewable electricity
Paris, January 13, 2021 – Total and Engie have signed a cooperation agreement to design, develop, build and operate the Masshylia project, France’s largest renewable hydrogen production site at Châteauneuf-les-Martigues in the Provence-Alpes-Côte d’Azur South region.
Located at the heart of Total’s La Mède biorefinery and powered by solar farms with a total capacity of more than 100 MW, the 40 MW electrolyser will produce 5 tonnes of green hydrogen per day to meet the needs of the biofuel production process at Total’s La Mède biorefinery, avoiding 15,000 tonnes of CO2 emissions per year.
An innovative management solution for the production and storage of hydrogen will be implemented to manage the intermittent production of solar electricity and the biorefinery’s need for continuous hydrogen supply.
The project thus integrates the implementation of 5 innovations that prefigure the industry’s decarbonation solutions, without any precedent in Europe:
| • | A digital piloting system for the continuous supply of hydrogen with real-time management of solar electricity<br>production, |
|---|---|
| • | Optimising the integration of several photovoltaic farms supplying the electrolyser to minimise energy losses and<br>limit grid congestion, |
| --- | --- |
| • | Large-scale hydrogen storage to balance intermittent electricity production and continuous hydrogen consumption,<br> |
| --- | --- |
| • | A direct current connection between a photovoltaic farm and the electrolyser to improve the energy balance,<br> |
| --- | --- |
| • | Enhanced industrial safety thanks to the use of 3D digital models for each component of the installation<br> |
| --- | --- |
Beyond this first phase, new renewable farms may be developed by the partners for the electrolyser, which has the capacity to produce up to 15 tonnes of green hydrogen per day.
The Masshylia project has been labelled as innovative and of great interest to the region by several regional institutions (Provence-Alpes-Côte d’Azur South Region, Métropole Aix-Marseille-Provence, Capenergies competitiveness cluster). It benefits from the support of local actors for its ability to reduce CO2 emissions and demonstrate the economic advantages of renewable hydrogen and its integration into the local ecosystem and at the European level.
The two partners aim to begin construction of the facilities in 2022, following the completion of the advanced engineering study, with a view to production in 2024, subject to the necessary financial support and public authorisations. To this end, the project has already applied for subsidies from the French (AMI) and European authorities (IPCEI, Innovation Fund).
“Innovation and sustainability are at the heart of this joint project. As demonstrated by ourcommitment to the European Clean Hydrogen Alliance, we believe in the future of renewable hydrogen, and we are working with our partner Engie to make it happen. This renewable hydrogen production facility, combined with our expertise in solarenergy, is a further step in our commitment to get to net zero by 2050.” says Philippe Sauquet, President Gas, Renewables & Power at Total*. “The association of two leading French energy companies will make itpossible to develop the hydrogen sector and become its leaders thanks to this joint, industrial and internationally reproducible project”.*
“The Masshylia project demonstrates the capacity of Engie to meet the challenges of the energy transition by developing innovative carbon neutralsolutions. The partnership between Engie and Total, by its scale and its very ambitious integrated approach, embodies Engie’s renewable hydrogen development strategy to reduce our clientsCO2 footprint. It also paves the way for a multi-usage renewable hydrogen hub in the near future, strongly rooted in the region and with an international outreach.” saysGwenaëlle Avice-Huet, Engie’s EVP in charge of renewable energies.
About Total & Hydrogen
Total is looking into the production of clean hydrogen-blue or green-, produced using carbon neutral processes, on a gas basis with carbon capture and storage or based on intermittent renewable electricity. For several years, the Group has been working on the development of concrete use cases*,* for the decarbonization of industrial processes as well as in mobility and gas. Total is notably involved as industrial user, within its refineries, and as a player in its development as a fuel especially in Germany with H2 Mobility. Total is also an active member of several Hydrogen-dedicated initiatives and professional associations: the Hydrogen Council, Hydrogen Europe, the European Clean Hydrogen Alliance and France Hydrogène. A Business Unit dedicated to Clean Hydrogen has been created in June 2020, within the Gas, Renewables & Power branch of Total.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
About Engie & Hydrogen
Engie believes that hydrogen will play a key role in the energy transition. The Group is a front runner in the development of an industrial-scale hydrogen economy with more than 30 projects underway in 10 countries. Engie is present along the entire hydrogen value chain, from renewable electricity production, renewable hydrogen production to developing various end uses. Engie is investing in, designing, building, and operating renewable hydrogen-based solutions for industries and regions around the world. Engie is an active member of several Hydrogen-dedicated initiatives and professional associations: the Hydrogen Council, Hydrogen Europe, the European Clean Hydrogen Alliance and France Hydrogène.
In 2018, Engie created a dedicated business unit for renewable hydrogen development. With more than 200 hydrogen experts within the Group, Engie is a leader in decarbonizing industrial processes and heavy-duty mobility.
About Engie
Our group is a global reference in low-carbon energy and services. Our purpose (“raison d’être”) is to act to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions, reconciling economic performance with a positive impact on people and the planet. We rely on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. With our 170,000 employees, our customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress.
Turnover in 2019: 60.1 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).
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Total Contacts
Media Relations: +33 (0)1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Engie Contacts
HQ Press contact: +33 (0)1 44 22 24 35 |
engiepress@engie.com | @Engiepress
Investor relations: +33 (0)1 44 22 66 29 | ir@engie.com
Cautionary Note
This press release, from which nolegal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document,the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work forthem.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in agiven economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly anyforward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
EX-99.3
EXHIBIT 99.3
Press Release
Total, new operator of Block 58 offshore Suriname, announces a fourth discovery
Paris, January 14, 2021 – Total and Apache Corporation have made a new significant oil and gas discovery at the Keskesi East-1 well, in Block 58 off the coast of Suriname. This follows previous discoveries at Maka Central, Sapakara West and Kwaskwasi.
The well was drilled by a water depth of about 725 meters and encountered a total of 63 meters net pay of hydrocarbons, comprised of 58 meters net black oil, volatile oil, and gas pay in good quality Campano-Maastrichtian reservoirs, along with 5 meters of net volatile oil pay in Santonian reservoirs, where wireline logging has just been performed. Drilling is still ongoing for deeper Neocomian aged targets.
“We are delighted toannounce this new discovery, which confirms this first exploration campaign as a full success and adds to the proven resource base” said Kevin McLachlan, Senior Vice President Exploration at Total. “We are also excited, asnew operator of the block, to start the appraisal operations designed to characterize the 2020 discoveries, while in parallel start a second exploration campaign on this prolific block in 2021.”
Total assumed operatorship of Block 58 on January 1^st^, 2021, with a 50% working interest. Upon completion of the operations on Keskesi East-1, the Noble Sam Croft drillship will be released.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
* * * * *
Total Contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Cautionary Note
This press release, from which nolegal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms“Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a giveneconomic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-lookinginformation or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Cautionary Note to U.S. Investors — The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC,to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this press release, such as resources, that the SEC’s guidelinesstrictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-10888 available from us at TOTAL SE — Tour Coupole — 2, place Jean Millier —Arche Nord Coupole/Regnault — 92078 Paris La Défense Cedex — France, or at our website: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s website:www.sec.gov.
EX-99.4
EXHIBIT 99.4
Press Release
Total and 174 Power Global to Jointly Develop 1.6 GW of Solar and Energy Storage Projects in the U.S.
Houston and Paris, January 14, 2021 – Total and 174 Power Global, a wholly owned Hanwha Group affiliate, have signed an agreement to form a 50/50 joint venture (JV) to develop 12 utility-scale solar and energy storage projects of 1.6 gigawatts (GW) cumulative capacity in the United States, transferred from 174 Power Global’s development pipeline.
The first project started production in 2020, and the remainder will be put on stream between 2022 and 2024. Located in Texas, Nevada, Oregon, Wyoming and Virginia the projects will produce clean and reliable energy across the U.S. and lead to the creation of jobs in engineering, construction and plant operations.
The JV builds on a strong partnership that combines 174 Power Global’s extensive solar project development experience in the U.S. with Total’s decade-long international expertise in the development of solar projects.
“This transaction is a first significant step for Total in the USutility scale solar market, in line with our 2025 ambition to achieve 35 GW of renewables production capacity worldwide. I am confident that this will pave the way to more opportunities in the US renewables and storage market,” saidJulien Pouget, Director Renewables of Total. “I am very pleased to extend our long-standing cooperation with the Hanwha Group into renewable energies and successfully contribute to the development of solar power generation in theUS”.
“We are pleased to partner with Total and see significant opportunities for our JV to expand our solar and energy storagefootprint,” said 174 Power Global President and CEO, Henry Yun, PhD. “Both 174 Power Global and Total have a strong understanding of one another’s business strategies and investment standards. This is a greatpartnership, and we are excited to work with the Total team and further our joint commitment to clean renewable energy and low-carbon investments.”
Total, renewables and electricity
As part of its ambition to get to net zero by 2050, Total is building a portfolio of activities in renewables and electricity that could account for up to 40 percent of its sales by 2050. At the end of 2020, Total’s gross power generation capacity worldwide was around 12 GW, including close to 7 GW of renewable energy. With the objective of reaching 35 GW of production capacity from renewable sources by 2025, Total will continue to expand its business to become one of the world leaders in renewable energies.
About 174 Power Global
174 Power Global is a leading solar and energy storage project developer focused on North America’s utility and C&I energy markets. The company is wholly owned by the Hanwha Group, and has offices in Houston, Irvine, California and New York City. With deep expertise across the full spectrum of the project development cycle, 174 Power Global works closely with utilities, landowners, local communities, financial investors, and other partners to build highly productive, utility scale and C&I solar power plants throughout North America. Since its formation in 2017, 174 Power Global has signed over 3 gigawatts (GW) of power purchase agreements (PPAs) with more than 8 GW of additional solar projects and 10GWh of ESS projects in the development pipeline. 174 Power Global also is affiliated with Chariot Energy, a retail energy provider that provides 100% clean, renewable solar energy to the Texas market. Chariot Energy is transforming the energy supply for Texas while modernizing and simplifying the way solar energy is sold and delivered. 174 Power Global’s name was inspired by the 174 petawatts (PW) of power the earth receives from the sun at any moment.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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174 Power Global Contacts
Kelly Kimberly +1.713.822.7538 kkimberly@sardverb.com
Brian Armentrout +1.281.968.5635 Brian.armentrout@174powerglobal.com
Total Contacts
Media Relations: +33 1 47 44 46 99 |
presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Cautionary note
This press release, from which nolegal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms“Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a giveneconomic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-lookinginformation or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
EX-99.5
EXHIBIT 99.5
Press release
Total withdraws from the American Petroleum Institute
Paris, 15 January 2021 – Following a detailed analysis of the climate positions of the American Petroleum Institute (API), Total announces its decision not to renew its membership for 2021.
Each year, Total assesses the main industry associations of which it is a member to ensure they are aligned with the Group’s climate positions. This alignment review is based on six key points:
| 1. | our science-based position that the link between human activity and climate change is an established fact,<br> |
|---|---|
| 2. | our support for the objectives of the Paris Agreement, |
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| 3. | our belief in the necessity to implement carbon pricing, |
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| 4. | our confidence in the key role that natural gas plays in the energy transition, |
| --- | --- |
| 5. | our support for policies and initiatives that promote the development of renewable energy, and<br> |
| --- | --- |
| 6. | our support for the development of CO2 capture and<br>storage. |
| --- | --- |
These items are detailed in the Getting to Net Zero report issued in September 2020.
Following the 2019 and 2020 reviews, API’s positions were assessed as “partially aligned” with those of the Group. Certain divergences, which have been discussed within the association, remain today:
| • | regarding the role of natural gas, API maintains its support for the rollback of U.S. regulation on methane<br>emissions, which the Group opposed in November 2019; |
|---|---|
| • | regarding transport decarbonization, API is part of the Transportation Fairness Alliance, which is opposed to<br>subsidies for electric vehicles; |
| --- | --- |
| • | regarding the carbon pricing principle, API expresses differing positions to those of Total.<br> |
| --- | --- |
Moreover, API gave its support during the recent elections to candidates who argued against the United States’ participation in the Paris Agreement.
“The Group acknowledges the API’s considerable contribution, for over a century, to the development of our industry.Nevertheless, as part of our Climate Ambition made public in May 2020, we are committed to ensuring, in a transparent manner, that the industry associations of which we are a member adopt positions and messages that are aligned with those of theGroup in the fight against climate change”, said Patrick Pouyanné, Chairman and CEO of Total. “This transparency responds to our stakeholders’ expectations, as well as being an essential guarantee of the credibility of our strategy.”
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About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
Total contacts
Media Relations: +33 1 47 44 46 99 |
presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Notice
This press release is published solely forinformation purposes and cannot be construed as having any legal effect. The entities in which Total SE directly or indirectly holds equity interests are separate and independent legal entities. Total SE may not be held liable for acts performed oromissions made by said companies. The terms “Total”, “Total Group” and “Group” that appear in this document are generic and are used solely for the sake of convenience. Similarly the terms “we” and“our” may also be used in reference to subsidiaries or their employees.
This document may contain forward-looking information andstatements that are based on business data and assumptions formulated in a given economic, competitive and regulatory context. They may prove inaccurate in the future and are dependent on risk factors. Neither Total SE nor any of its subsidiariescommit to or assume liability towards investors or any other stakeholder to update or revise, particularly based on new information or future events, all or part of the statements, forward-looking information, trends or objectives contained in thisdocument.
EX-99.6
EXHIBIT 99.6
Press Release
India: Total to Acquire from Adani a 20% Interest in the Largest Solar Developer in the World
Paris, January 18, 2021 – Total announces the acquisition of a 20% minority interest in Adani Green Energy Limited (AGEL) from Adani Group.
The transaction marks the deepening partnership between the Adani Group – India’s leading infrastructure platform — and Total, in the transition and green energy fields in India. The investment in AGEL is another step in the strategic alliance between Adani Group and Total, which covers investments in LNG terminals, gas utility business, and renewable assets across India. This is in line with the commitment of both Adani and Total to be leading participants in the sustainable economy of the future and help India in its quest for development of renewable energy.
In 2018, Total and Adani embarked on the energy partnership with investment by Total in Adani Gas Limited, city gas distribution business, associated LNG terminal business and gas marketing business.
During the development of this partnership, it was further agreed that Total and Adani shall continue this alliance into the wider renewable energy space. Total and Adani agreed the acquisition of a 50% stake in a 2.35 GWac portfolio of operating solar assets owned by AGEL and a 20% stake in AGEL for a global investment of USD 2.5 Billion. Along with this 20% minority interest in AGEL, Total will have a seat on the Board of Directors of the company.
AGEL, started in 2015 with the world’s largest single location solar power project located in Kamuthi, Tamil Nadu (648 MW) has come a long way to be the #1 global solar power generation asset. As on date, AGEL has over 14.6 GW of contracted renewable capacity, with an operating capacity of 3 GW and another 3 GW under construction and 8.6 GW under development. The company aims to achieve 25 GW of renewable power generation by 2025.
The partnership with AGEL in the renewables space in India will be a key contributor to Total’s objective of reaching 35 GWp of gross production capacity from renewable sources by 2025 and adding 10 GWp per year afterwards.
Speaking on the occasion, Patrick Pouyanné, Chairman and CEO of Total, said:“This agreement is an important step inour alliance with the Adani Group in India and our common vision and goals with respect to the importance of access to low carbon energy in India. Our entry into AGEL is a major milestone in our strategy in the renewable energy business in India putin place by both parties. Given the size of the market, India is the right place to put into action our energy transition strategy based on two pillars: renewables and natural gas.”
Adani Group Chairman, Mr. Gautam Adani, added:“We are delighted to deepen our strategic alliance with TOTAL, a global energymajor, and welcome them as a significant shareholder in Adani Green Energy Limited. We have a shared vision of developing renewable power at affordable prices to enable a sustainable energy transformation in India. We look forward to workingtogether towards delivering India’s vision for 450 GW renewable energy by 2030.”
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Total, renewables and electricity
As part of its ambition to get to net zero by 2050, Total is building a portfolio of activities in renewables and electricity that could account for up to 40% of its sales by 2050. At the end of 2020, Total’s gross power generation capacity worldwide was around 12 GW, including close to 7 GW of renewable energy. With the objective of reaching 35 GW of production capacity from renewable sources by 2025, Total will continue to expand its business to become one of the world leaders in renewable energies.
About Adani Green Energy Limited
Adani Green Energy Limited (AGEL), a part of the Adani Group, has 14.6 GW of operating, under-construction and awarded renewable power projects catering to investment-grade counterparties. AGEL has been ranked as the #1 global solar power generation asset owner by Mercom Capital. The company aims to achieve 25 GW of renewable power by 2025 and is committed to contribute to India’s COP21 goals.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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Total Contacts
Media Relations: +33 1 47 44 46 99 |
presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com ****
Cautionary Note
This press release, from which nolegal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms“Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them. Thisdocument may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and aresubject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of newinformation, future events or otherwise.
EX-99.7
EXHIBIT 99.7
Press Release
Nigeria: Total completes sale of its interest in onshore OML 17
Paris, January 18, 2021 – Total has completed the divestment of its 10% interest in onshore Oil Mining Lease (OML) 17 to the Nigerian company TNOG Oil & Gas Limited, a related company of Heirs Holdings Limited and of Transnational Corporation of Nigeria Plc (Transcorp), for about $180 million, out of which about $150 million was paid at completion of the transaction, while the balance will be paid under an agreed deferred payment scheme. The block produced around 2,500 barrels of oil equivalent per day in 2020 in Total group share.
“This transaction fits with our strategy of actively managing assets to continue improving our portfolio” said Jean-Pierre Sbraire, Chief Financial Officer at Total.
Total holds a 10% interest in several onshore blocks in Nigeria operated by Shell Petroleum Development Company (SPDC, 30%), a joint venture alongside the Nigerian National Petroleum Corporation (55%) and Nigerian Agip Oil Company Limited (5%). Since 2010, Total has divested its interests in twelve onshore blocks to Nigerian companies, in line with the Federal Government of Nigeria’s aim of developing Nigerian companies in the sector.
Total Exploration & Production in Nigeria
Total has been present in Nigeria for over 60 years, where it today employs more than 1,600 people both in upstream and downstream activities.
The Group’s production in the country was 306,000 barrels of oil equivalent a day in 2019. Total operates 5 production licenses (OML) on the 33 leases in which the Group has interests.
In addition to OML 130 where the Akpo, Egina and Preowei fields were discovered, Total operates other offshore assets such as OML 99 where the Ikike discovery is located, OML 100 and OML 102 where the Ofon 2 project was completed in 2016. Onshore, Total is the operator of OML 58 under its joint venture with Nigerian National Petroleum Corporation (NNPC). The Group is also developing Liquefied Natural Gas (LNG) activities with a 15% stake in the Nigeria LNG Ltd company, which currently operates 6 LNG liquefaction trains on Bonny Island.
In the downstream sector, Total operates in a leading position with an extensive distribution network of around 580 service stations nationwide and a wide range of top-quality energy products and services.
The Group is committed to working closely with its host communities in Nigeria and is supporting many projects in the field of health, education, infrastructure and economic development, through its sustainable development and community relations programs. With a diverse workforce of several nationalities and cultures working together, Total is proud of its contributions to the socio-economic development of Nigeria.
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About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
Total Contacts
Media Relations: +33 1 47 44 46 99 |
presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Cautionary Note
This press release, from which nolegal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms“Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them. Thisdocument may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and aresubject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of newinformation, future events or otherwise.
Cautionary Note to U.S. Investors — The United States Securities and Exchange Commission permits oiland gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this press release,such as resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-10888 available from us at TOTAL SE —Tour Coupole — 2, place Jean Millier — Arche Nord Coupole/Regnault — 92078 Paris La Défense Cedex — France, or at our website: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330or on the SEC’s website: www.sec.gov.
EX-99.8
EXHIBIT 99.8
Press Release
Total Has Successfully Issued Hybrid Bonds To Finance Its Development Strategy in Renewables
Paris, January 18 2021 – Total SE today successfully issued perpetual subordinated bonds in the amount of €3 billion:
| • | €1.5 billion at 1.625% coupon for the tranche with a 7 year first call date |
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| • | €1.5 billion at 2.125% coupon for the tranche with a 12 year first call date |
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The proceeds from the bonds will be used to finance its development strategy, mainly acquisitions, in renewables, in particular €1.7 billion for the acquisition of a 20% interest in Adani Green Energy Limited.
With a weighted average coupon of 1.875%, this issuance that was very well received by investors will allow the Group to finance its development in renewables at a reduced capital cost.
Jean-Pierre Sbraire, Chief Financial Officer atTotal, said: “These hybrid bonds provide a cost of capital comparable to that of pure players in renewables and is therefore suited to finance acquisitions in this business. These bonds will finance in a very competitive way ourdevelopment in renewables, which is at the heart of our strategy to transform Total into a broad energy company.”
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About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
Total Contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Cautionary Note
This press release, from which nolegal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms“Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them. Thisdocument may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and aresubject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of newinformation, future events or otherwise.