on TOTALENERGIES (EPA:TTE)
TotalEnergies Unveils Ambitious 2024 Strategy & Outlook
TotalEnergies has announced its Strategy & Outlook for 2024 in New York. The company aims to grow energy production by 4% annually from 2024 to 2030 while significantly reducing emissions. Key targets include a 40% reduction in Scope 1 and 2 emissions by 2030 compared to 2015 levels, and an 80% reduction in methane emissions compared to 2020 levels.
TotalEnergies plans to de-risk and boost its growth and profitability through various projects. LNG is a pivotal element, with a projected 50% growth in LNG production from 2024 to 2030. Electricity generation is set to reach over 100 TWh in 2030, with 70% from renewable sources.
In terms of shareholder returns, the company will execute $8 billion in stock buybacks in 2024 and continue $2 billion per quarter in 2025. Net investments are projected between $16-18 billion annually from 2025 to 2030, with $5 billion allocated to low-carbon energies.
R. H.
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