The world is facing parallel challenges of growing energy demand and continued global warming, calling for a serious transition of the industry and adoption of more affordable, more reliable and cleaner energy for a sustainable energy future. To strike the right balance between environmental urgency and economic viability, at TotalEnergies, we are integrating climate into our strategy. We have grouped our initiatives around four strategic focuses. These cover our efforts to expand our presence across the entire natural gas chain, grow our low-carbon electricity value chain, curtail carbon emissions at our petroleum facilities, and develop technologies that will help achieve carbon neutrality. Our ambition? To get to net-zero emissions across our worldwide operations by 2050 or sooner.
Low Carbon Energy to Meet The Increasing China Demand
As a result of the ongoing economic growth of China in recent years, China’s energy consumption has also continued to expand. At the same time, the country is actively pursuing a transition to a low-carbon profile with a cleaner energy system. Aligned perfectly with this transition, our development strategy sets a solid foundation for TotalEnergies’ future growth in China and further expansion into the global market with our Chinese partners.
As one of the major suppliers to China’s natural gas demand, TotalEnergies’ gas operation in the South Sulige field has reached a production milestone of 10 billion cubic meters. We have signed a number of Sales and Purchase Agreements (SPAs) to ramp up our LNG supply to the Chinese market. As the country continues its open-up policy on a broader scale, TotalEnergies also seeks to expand our collaborations with China, signing several Memorandums of Understanding (MOUs) with Chinese companies, extending our natural gas services to millions of end-users and Chinese households.
TotalEnergies is also accelerating our renewable energy deployments in the Chinese market. In solar, we teamed up with Zhonghuan to bring high-quality photovoltaic cell modules to our global clients. We have also joined forces with Envision for deployments in the fast-growing distributed PV market in China. In energy storage, Total formed a joint-venture with Tianneng Energy Technology (TET) through our subsidiary Saft, to forge an alliance for development, manufacturing, and sales of lithium-ion batteries and cell modules for the burgeoning market in electric vehicles.
