TotalEnergies, a global multi-energy company, has finalized the acquisition of Talos Low Carbon Solutions (TLCS), an American pioneer in carbon capture and storage initiatives.
Acquisition Details and Project Ownership
Through this acquisition, TotalEnergies secures a 25% share in the Bayou Bend project, alongside Chevron (50%, operator) and Equinor (25%). The Bayou Bend project, situated along the Texas Gulf Coast, is strategically located near TotalEnergies’ regional assets.
Significance of Bayou Bend Project
Bayou Bend project serves as a crucial carbon transportation and storage solution for industrial emitters in the Houston Ship Channel and Beaumont – Port Arthur region, one of the largest industrial corridors in the United States. It boasts licenses covering about 600 km2, enabling the potential storage of several hundred million tons of CO2.
TotalEnergies’ Commitment to Decarbonization
Patrick Pouyanné, Chairman and CEO of TotalEnergies, emphasized the significance of this acquisition in the company’s journey towards Net Zero by 2050. He highlighted the project’s role in reducing direct emissions from US operations and advancing the decarbonization agenda.
TotalEnergies’ Focus on Carbon Storage
TotalEnergies prioritizes emissions avoidance and reduction, complemented by the development of carbon storage projects. Leveraging its expertise in project management, gas processing, and geosciences, the company is actively driving decarbonization efforts across Europe through initiatives like Northern Lights in Norway, Aramis in the Netherlands, and Bifrost in Denmark.
As TotalEnergies continues to expand its footprint in the carbon capture and storage sector, it reaffirms its commitment to sustainable development and addressing the challenges of climate change.
Source：businesswire.com
