At the 5th Sub Saharan African International Petroleum Exhibition and Conference (SAIPEC) organised by the Petroleum Technology Association of Nigeria (PTAN), the Chief Executive Officer of Total, Mike Sangster, disclosed that to extend the French Group’s operations to renewable energy and electricity, Total will change its name by next week to “Total Energies.”
He made this known during his virtual presentation titled “IOCs: Dynamics of Sub Saharan Africa’s Energy, Oil and Gas as we strive to low carbon future IOC perspective.”
He explained that Total hasn’t done many renewable projects in Nigeria despite its $3 billion investment in renewable yearly, because the electricity market in Nigeria is very challenging. He, however, noted that the company hopes for some strength and stability in the electricity market so it can take advantage of Nigeria’s abundant sunshine to invest in solar projects.
He said for the monetisation of gas to reduce emissions in Nigeria, LNG is one of the answers. He stated that the company has started supplying gas to Aloaji Power Plant, located in Alaiyi, a community near Aba in Abia State, South-Eastern Nigeria.
He said that Total plans to boost its electricity business to the equivalence of half a million barrel of oil per day. He reminded the audience that to show the company’s commitment to the stoppage of gas flaring, it increased supply and exited flaring in 2014.
Total has a project to be signed with the Nigerian National Petroleum Corporation (NNPC) to eliminate flaring and reduce carbon intensity in the country.
On downstream business, he said 575 stations have been solarised to reduce emission and ensure that all its developments are zero-emission in the country.
Excerpts from his submission:
“Some of you may be aware that as from next week, we will change the name of the company from Total to ‘Total Energy’ because we want to be involved in oil and gas and electricity.”
“I think it one of the reasons is the nature of renewable projects. We need to have Power Purchase Agreement for the electricity.”
“At the moment we produce 3million per day of oil equivalent of oil and gas. By 2030 we want to grow to 4million barrel equivalent for the company.”
“We want to grow substantial electricity business which should be equivalent to half a million barrel per day. That is the big move in the strategy.”
“We also need to develop the domestic market in Nigeria. In the past few years now we have been supplying gas to Aloaji.”
“There is need for gas pipeline to deliver the gas to the market. In the past few days we started supplying gas to Indorama plant. It is value added to the company because they are using gas to create fertilizer.”
” We stopped flaring of gas with electricity projects. That was our commitment to reduce flaring and increase gas supply.”
/strong%20organised%20by%20the%20Petroleum%20Technology%20Association%20of%20Nigeria%20(PTAN),%20the%20Chief%20Executive%20Officer%20of%20Total,%20Mike%20Sangster,%20disclosed%20that%20to%20extend%20the%20French%20Group's%20operations%20to%20renewable%20energy%20and%20electricity,%20Total%20will%20change%20its%20name%20by%20next%20week%20to%20Total%20Energies.img%20class=size-medium%20wp-image-4139%20aligncenter%20src=https://ibekachikwu.com/wp-content/uploads/2021/05/6f4d2e80-96ed-4ed5-a368-3394977423a1-300x300.jpg%20alt=%20width=300%20height=300%20/He%20made%20this%20known%20during%20his%20virtual%20presentation%20titled%20“IOCs:%20Dynamics%20of%20Sub%20Saharan%20Africa’s%20Energy,%20Oil%20and%20Gas%20as%20we%20strive%20to%20low%20carbon%20future%20IOC%20perspective.He%20explained%20that%20Total%20hasn't%20done%20many%20renewable%20projects%20in%20Nigeria%20despite%20its%20$3%20billion%20investment%20in%20renewable%20yearly,%20because%20the%20electricity%20market%20in%20Nigeria%20is%20very%20challenging.%20He,%20however,%20noted%20that%20the%20company%20hopes%20for%20some%20strength%20and%20stability%20in%20the%20electricity%20market%20so%20it%20can%20take%20advantage%20of%20Nigeria's%20abundant%20sunshine%20to%20invest%20in%20solar%20projects.He%20said%20for%20the%20monetisation%20of%20gas%20to%20reduce%20emissions%20in%20Nigeria,%20LNG%20is%20one%20of%20the%20answers.%20He%20stated%20that%20the%20company%20has%20started%20supplying%20gas%20to%20Aloaji%20Power%20Plant,%20located%20in%20Alaiyi,%20a%20community%20near%20Aba%20in%20Abia%20State,%20South-Eastern%20Nigeria.He%20said%20that%20Total%20plans%20to%20boost%20its%20electricity%20business%20to%20the%20equivalence%20of%20half%20a%20million%20barrel%20of%20oil%20per%20day.%20He%20reminded%20the%20audience%20that%20to%20show%20the%20company’s%20commitment%20to%20the%20stoppage%20of%20gas%20flaring,%20it%20increased%20supply%20and%20exited%20flaring%20in%202014.Total%20has%20a%20project%20to%20be%20signed%20with%20the%20strongNigerian%20National%20Petroleum%20Corporation%20(NNPC)/strong%20to%20eliminate%20flaring%20and%20reduce%20carbon%20intensity%20in%20the%20country.On%20downstream%20business,%20he%20said%20575%20stations%20have%20been%20solarised%20to%20reduce%20emission%20and%20ensure%20that%20all%20its%20developments%20are%20zero-emission%20in%20the%20country.Excerpts%20from%20his%20submission:em“Some%20of%20you%20may%20be%20aware%20that%20as%20from%20next%20week,%20we%20will%20change%20the%20name%20of%20the%20company%20from%20Total%20to%20‘Total%20Energy’%20because%20we%20want%20to%20be%20involved%20in%20oil%20and%20gas%20and%20electricity.”/emem“I%20think%20it%20one%20of%20the%20reasons%20is%20the%20nature%20of%20renewable%20projects.%20We%20need%20to%20have%20Power%20Purchase%20Agreement%20for%20the%20electricity.”/emem“At%20the%20moment%20we%20produce%203million%20per%20day%20of%20oil%20equivalent%20of%20oil%20and%20gas.%20By%202030%20we%20want%20to%20grow%20to%204million%20barrel%20equivalent%20for%20the%20company.”/emem“We%20want%20to%20grow%20substantial%20electricity%20business%20which%20should%20be%20equivalent%20to%20half%20a%20million%20barrel%20per%20day.%20That%20is%20the%20big%20move%20in%20the%20strategy.”/emem“We%20also%20need%20to%20develop%20the%20domestic%20market%20in%20Nigeria.%20In%20the%20past%20few%20years%20now%20we%20have%20been%20supplying%20gas%20to%20Aloaji.”/emem“There%20is%20need%20for%20gas%20pipeline%20to%20deliver%20the%20gas%20to%20the%20market.%20In%20the%20past%20few%20days%20we%20started%20supplying%20gas%20to%20Indorama%20plant.%20It%20is%20value%20added%20to%20the%20company%20because%20they%20are%20using%20gas%20to%20create%20fertilizer.”/emem”%20We%20stopped%20flaring%20of%20gas%20with%20electricity%20projects.%20That%20was%20our%20commitment%20to%20reduce%20flaring%20and%20increase%20gas%20supply.”/em){kind=link}