TotalEnergies Expands Carbon Capture And Joins e-Natural Gas Coalition With Industry Giants
Portfolio Pulse from Lekha Gupta
TotalEnergies SE (TTE) has acquired Talos Energy Inc.'s (TALO) Low Carbon Solutions for $148 million, including its carbon capture and sequestration business. The deal gives TotalEnergies a stake in three U.S. Gulf Coast projects. Additionally, TotalEnergies joins an international coalition, the e-NG Coalition, with companies like ENGIE Brasil Energia SA (EGIEY) and Mitsubishi Corp. (MTSUY) to support e-natural gas development.
March 19, 2024 | 11:16 am
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POSITIVE IMPACT
ENGIE Brasil Energia SA joins the e-NG Coalition with TotalEnergies and other global companies to support e-natural gas development.
Joining the e-NG Coalition could enhance ENGIE Brasil Energia's visibility and position in the renewable energy market, potentially having a positive impact on its stock in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mitsubishi Corp. is part of the e-NG Coalition, supporting the development of e-natural gas alongside TotalEnergies and other companies.
Mitsubishi Corp.'s participation in the e-NG Coalition signifies its commitment to renewable energy, which could positively influence its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Talos Energy Inc. sells its Low Carbon Solutions to TotalEnergies SE for $148 million, focusing on its core Upstream business.
Selling its Low Carbon Solutions to TotalEnergies allows Talos Energy to monetize its carbon capture business and refocus on its core Upstream business, which could positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
TotalEnergies SE acquires Talos Energy's carbon capture business and joins the e-NG Coalition to support e-natural gas development.
The acquisition of Talos Energy's carbon capture business and the formation of the e-NG Coalition are strategic moves that could enhance TotalEnergies' position in renewable energy and carbon capture sectors, potentially boosting its stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100