Published on 22 Mar 2024 on Zacks via Yahoo Finance
TotalEnergies (TTE) Restarts Tyra Hub After a Redevelopment
TotalEnergies SE TTE announced that after successful completion of a major redevelopment project it resumed production from Tyra Offshore Hub in North Sea in Denmark. Post upgrade, Tyra Hub will be able to produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day. Strong production volumes from this hub will be able to meet Denmark’s demand for natural gas. Also, it will be able to export natural gas.After the improvement, TotalEnergies will utilize state-of-the-art digital solutions and technological innovations to produce more efficiently and with 30% lower greenhouse gas emissions than the former facilities at the Tyra hub. The company operates the offshore Tyra field on behalf of Danish Underground Consortium, a partnership between TotalEnergies (43.2%), BlueNord (36.8%) and Nordsøfonden (20%).TTE has a very strong presence in Denmark and operates more than 80% of oil and 90% of gas produced in the country, with a strong focus on emission reductions as demonstrated by the end of routine flaring on its assets in 2023.
Global Multi-Energy Operation
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. The company continues to expand its operation through organic and inorganic methods. It has been increasing LNG production and the generation of electricity from clean energy sources.TTE is one of the major global LNG producers with a market share of nearly 12% and a worldwide portfolio of more than 50 million tons per year. This can be attributed to the company’s diverse investments in liquefaction facilities across all continents.It strives to be a net-zero carbon emission company by 2050 and has taken the necessary steps to achieve the target. Gross installed renewable power generation capacity rose to 22 GW at the end of 2023, up 6 GW year over year. It has a portfolio of gross installed capacity under construction and is in development of 35 GW by 2025, with more than 20 GW already having long-term power purchase agreements.The company is also working to lower transportation related emission by assisting wider usage of electric vehicle globally. TotalEnergies is present throughout the value chain of electric charging. It continuously invests in charging infrastructure to promote the deployment of electric mobility on a large scale. It is also developing its network with more than 30,000 charging points in the major cities of Europe and Singapore.