LNG Power Play: TotalEnergies Strikes 16-Year Deal with Sembcorp Fuels
Portfolio Pulse from Lekha Gupta
TotalEnergies SE (NYSE:TTE) has signed a 16-year sale and purchase agreement with Sembcorp Fuels to deliver up to 0.8 million tons of LNG annually starting in 2027. This deal builds on an existing agreement running until 2029. Additionally, TotalEnergies recently announced partnerships for methane emission detection in India and a majority stake acquisition in the Tungsten Explorer drillship. The company also reported a revenue of $59.237 billion for Q4 FY23, surpassing estimates, despite a 12% decline in hydrocarbon production, and increased its quarterly dividends by 7.1% to €0.79.
February 29, 2024 | 11:39 am
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TotalEnergies SE has entered a long-term LNG supply deal with Sembcorp Fuels, announced significant partnerships, and reported a strong financial performance for Q4 FY23, with an increase in dividends.
The long-term LNG supply agreement with Sembcorp Fuels, alongside strategic partnerships and a strong financial performance, indicates a positive outlook for TotalEnergies. The increase in dividends reflects confidence in the company's financial health and future prospects, likely leading to a positive short-term impact on the stock price.
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IMPORTANCE 90
RELEVANCE 100