With regard to greenhouse-gas emissions, TotalEnergies is com¬mitted to lowering its carbon foot-print from energy production, processing and delivery to our customers.
First of all, the Company is executing an ambi¬tious action plan to reduce the greenhouse gas emissions for which we are directly responsible (Scope 1+2 emissions at our operated assets) to the strict minimum. We are further investing in carbon storage and sequestration projects so as to “neutralize” our residual emissions and be able to offer those CCS solutions to our major industrial customers.
Although the speed of the transition will depend on the pace of change in government policies, consumer behaviors and correspond¬ing demand, TotalEnergies has embraced the need to offer our customers affordable, less carbon-intensive energy products, and to lend support to our partners and suppliers with their own low-carbon strategies.
Drawing on the actions already taken to evolve our energy offerings and reduce car¬bon emissions from our operations, in 2022 TotalEnergies published an outline of what our businesses might look like as we become a carbon-neutral energy company by 2050, together with society.
By 2050, TotalEnergies would produce:
- about 50% of our energy in the form of low-carbon electricity, with corresponding storage capacity, totaling about 500 TWh/year, on the premise that we develop about 400 GW of renewable capacity;
- about 25% of our energy, equivalent to 50 Mt/year of decarbonized fuels in the form of biogas, hydrogen, or synthetic liquid fuels from the circular reaction H2 + CO2 (e-fuels);
- about 1 Mb/day of oil and gas (about a quarter of the total in 2030, consistent with the decline envisaged in the IEA’s 2021 Net Zero scenario), primarily liquefied natural gas (roughly 0.7 Mboe/day, or 25-30 Mt/year) with very low-cost oil accounting for the rest. Most of that oil would be used in the petrochemicals industry to produce about 10 Mt/year of polymers, of which two thirds would come from the circular economy.
That oil and gas would represent:
- about 10 Mt of residual emissions annually, with methane emissions almost eliminated (below 0.1 Mt CO2e/year); those emissions would be offset in full by projects using nature-based solutions (natural carbon sinks);
- scope 3 emissions totaling about 100 Mt annually.
To get to net zero together with society, TotalEnergies would help “eliminate” the equivalent of 100 Mt/year of CO2 generated by our customers by developing:
- a carbon storage service for customers that would store 50 to 100 Mt/year of CO2;
- an industrial e-fuels business that would prevent 25 to 50 million tons of CO2 for our customers through production with 100% green hydrogen, while offsetting the intermittent nature of renewable energies to make them a viable replacement for fossil fuels.