TotalEnergies Extends LNG Deal With CNOOC
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 19 2024
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Should l Buy TTE?
Source: Benzinga
TotalEnergies and CNOOC Agreement: TotalEnergies SE has extended its sales and purchase agreement with CNOOC for an additional five years, ensuring the delivery of 1.25 million tons of LNG annually to China until 2034, which helps secure long-term sales in Asia.
New Ventures and Investments: The company also signed a 10-year deal with BOTAŞ for 1.1 million tons of LNG annually starting in 2027 and formed a joint venture with Adani Green for a solar project in India, investing $444 million to enhance its renewable energy strategy.
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Analyst Views on TTE
Wall Street analysts forecast TTE stock price to fall
16 Analyst Rating
8 Buy
8 Hold
0 Sell
Moderate Buy
Current: 76.120
Low
60.04
Averages
71.67
High
90.93
Current: 76.120
Low
60.04
Averages
71.67
High
90.93
About TTE
TotalEnergies SE is a France-based company. The Company is predominantly engaged in the business as a worldwide oil group. Its segment divisions are divided into refining and chemistry such as refining of petroleum products and manufacture of basic chemistry and of specialty chemistry, petroleum products distribution, electricity generation from combined cycle gas plants and renewable energies, gas production, trading, transport and distribution primarily includes liquefied natural gas, natural gas, biogas, hydrogen, liquefied petroleum gas and hydrocarbon operating and production. The group is also operating in trading and sea transport of crude oil and oil products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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