TotalEnergies & Partners to Increase Carbon Storage Capacity in Norway

28.03.25 18:06 Uhr

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TotalEnergies SE TTE, along with its partners Equinor ASA EQNR and Shell plc SHEL, has announced the Final Investment Decision (FID) for the second phase of the Northern Lights development. This will increase the project's transport and storage capacity from 1.5 million to more than 5 million tons of carbon dioxide (CO2) per year, starting 2028.The initial phase of the project has been completed and is ready to accept CO2 from industrial sources. Operations are expected to begin this summer, including the first shipment of CO2 from Heidelberg Materials' cement factory in Brevik, Norway, to a reservoir 2,600 meters below the seabed off the coast of Øygarden, western Norway, for injection and long-term storage.An Insight Into TTE’s ProjectLeveraging the existing onshore and offshore infrastructures, the second phase represents an investment of $700 million (NOK 7.5 billion). The new onshore storage tanks, pumps, jetty, injection wells, and transport vessels that are part of this development should be completed by the second half of 2028 and be ready for use.This FID for the subsequent phase follows the signing of a 15-year commercial contract between Northern Lights and Stockholm Exergi, the Swedish district energy supplier, for the cross-border transportation and storage of 900,000 tons of biogenic CO2 emissions annually, commencing in 2028.TTE Strengthens Its Carbon Capture & Storage EffortsTotalEnergies strives to be a net-zero carbon emission company by 2050 and has taken the necessary steps to achieve the target. For residual emissions, the company is developing an industrial project for carbon storage.TTE is leveraging its expertise in project management, gas processing and geoscience skills to move toward significant decarbonization of complex industrial sectors through projects like Northern Lights in Norway, Norther Endurance Partnership in the UK, Bayou-Bend in the United States, Aramis in the Netherlands and Bifrost in Denmark.In 2024, TotalEnergies acquired Talos Low Carbon Solutions, a carbon capture and storage (CCS) business, for $148 million, gaining assets such as the Bayou Bend project and stakes in the Harvest Bend and Coastal Bend CCS projects. TotalEnergies aims to reduce emissions through a systematic approach, including the development and deployment of carbon storage projects.Growth ProspectsRising carbon emissions globally and growing concerns about the detrimental impact of these emissions on the environment have driven the worldwide adoption of carbon capture and storage technology, leading to market expansion. According to a Global Market Insights report, the global carbon capture and storage market was valued at $8.8 billion in 2024 and is estimated to witness a CAGR of 16.7% from 2025 to 2034.Other companies are also set to take advantage of the expanding CSS market.Shell is currently developing CCS projects in the North Sea, the Americas and Asia. In Alberta, Shell Canada operates Quest, a CCS facility that captures, transports and stores more than a million tons of CO2 every year from the Scotford Upgrader. Since its inception in 2015, Quest has captured and safely stored more than 9 million tons of CO2.SHEL’s long-term (three to five years) earnings growth rate is 6.18%. The Zacks Consensus Estimate for 2025 sales indicates a year-over-year increase of 3.5%.Since 1996, Equinor has captured CO2 from the natural gas on the Equinor-operated Sleipner field in the Norwegian sector of the North Sea. More than 19 million tons of CO2 have been injected and stored in a saline formation 1 km below the seabed.EQNR’s long-term earnings growth rate is 11.62%. The Zacks Consensus Estimate for 2025 sales indicates a year-over-year increase of 13.3%.Eni SpA E and Snam are collaborating on Italy's first Carbon Capture and Storage (CCS) project, called Ravenna CCS, which aims to capture, transport, and store CO2 emissions from Eni's natural gas treatment plant in Ravenna, with the potential to become a major CCS hub for Southern Europe.The Zacks Consensus Estimate for Eni's 2025 EPS indicates a year-over-year increase of 4%. The Zacks Consensus Estimate for 2025 sales indicates a year-over-year decrease of 13.1%.TTE’s Stock Price PerformanceIn the past three months, shares of TotalEnergies have risen 19.6% compared with the industry’s 13.4% growth.     Image Source: Zacks Investment ResearchTTE’s Zacks RankThe company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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DatumRatingAnalyst
02.04.2025TotalEnergies NeutralGoldman Sachs Group Inc.
01.04.2025TotalEnergies OverweightJP Morgan Chase & Co.
12.03.2025TotalEnergies Market-PerformBernstein Research
03.03.2025TotalEnergies NeutralGoldman Sachs Group Inc.
25.02.2025TotalEnergies OverweightJP Morgan Chase & Co.
DatumRatingAnalyst
01.04.2025TotalEnergies OverweightJP Morgan Chase & Co.
25.02.2025TotalEnergies OverweightJP Morgan Chase & Co.
20.02.2025TotalEnergies OverweightJP Morgan Chase & Co.
06.02.2025TotalEnergies OutperformRBC Capital Markets
06.02.2025TotalEnergies BuyUBS AG
DatumRatingAnalyst
02.04.2025TotalEnergies NeutralGoldman Sachs Group Inc.
12.03.2025TotalEnergies Market-PerformBernstein Research
03.03.2025TotalEnergies NeutralGoldman Sachs Group Inc.
06.02.2025TotalEnergies NeutralGoldman Sachs Group Inc.
05.02.2025TotalEnergies NeutralGoldman Sachs Group Inc.
DatumRatingAnalyst
29.10.2018TOTAL UnderweightJP Morgan Chase & Co.
26.10.2018TOTAL UnderweightJP Morgan Chase & Co.
17.10.2018TOTAL UnderweightJP Morgan Chase & Co.
11.10.2018TOTAL UnderweightJP Morgan Chase & Co.
17.09.2018TOTAL UnderweightJP Morgan Chase & Co.

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