PARIS: To bolster its carbon capture and storage (CCS) capabilities, TotalEnergies has announced the complete acquisition of Talos Low Carbon Solutions, a pioneering American company in the CCS sector. This acquisition positions TotalEnergies with a 25% stake in the Bayou Bend CCS project, a significant venture along the Texas Gulf Coast, in partnership with Chevron and Equinor.
The Bayou Bend project, notable for its proximity to TotalEnergies’ regional assets, is poised to become a major CO2 storage hub for industrial emitters in the Houston Ship Channel and Beaumont – Port Arthur region. The project’s licenses cover approximately 600 km², potentially enabling the storage of hundreds of millions of tons of CO2, thereby presenting a world-class opportunity for CCS development.
In addition to Bayou Bend, TotalEnergies will gain a 65% operated interest in Louisiana’s Harvest Bend project and a 50% interest in Texas’ Coastal Bend project. However, the company plans to divest its interests in these two projects post-closing, given their distance from its existing operations.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, expressed enthusiasm for the Bayou Bend project’s role in reducing direct emissions from the company’s U.S. operations. He emphasized the transaction’s alignment with TotalEnergies’ commitment to decarbonization and its goal of achieving Net Zero by 2050.
TotalEnergies continues to prioritize emission avoidance and reduction through the deployment of best available technologies. With a focus on developing industrial carbon storage projects, the company leverages its expertise in project management, gas processing, and geosciences to drive significant decarbonization efforts across Europe, as seen in projects like Northern Lights, Aramis, and Bifrost.
As a global multi-energy company, TotalEnergies produces and markets a diverse range of energies, including oil, biofuels, natural gas, green gases, renewables, and electricity. With over 100,000 employees worldwide, the company is dedicated to delivering energy that is affordable, sustainable, reliable, and widely accessible, while placing sustainable development at the core of its operations and projects to enhance the quality of life globally.
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