BAKU, Azerbaijan, September 28. TotalEnergies
has reaffirmed its growth strategy through 2030, targeting annual
energy production growth of around 4% while continuing to reduce
emissions from its operations.


The French energy major said that it expects oil, gas and
electricity production to increase by an average of 4% per year
through 2030. At the same time, it plans to cut Scope 1 and 2
emissions from its oil and gas operations by 50% by 2030 from 2015
levels and reduce methane emissions by 80% by 2030 or earlier
compared with 2020.


"Oil and gas production is expected to grow by more than 3%
annually on average between 2025 and 2030, supported by a portfolio
of low-cost, low-emission projects that are currently under
development," said the company.


Electricity generation is projected to expand by more than 20%
annually, reaching 100–120 terawatt-hours per year by 2030.
Electricity would account for around 20% of TotalEnergies' overall
energy mix by that time. The company expects its Integrated Power
business to become free-cash-flow positive in 2027, following a
balanced position in 2026, and to achieve a return on average
capital employed (ROACE) of 12% by 2030.


TotalEnergies expects the increase in cash-generating production
to drive free cash flow growth of around $10 billion between 2025
and 2030, based on the same commodity price assumptions. This would
translate into an increase of more than $4 in free cash flow per
share.


Growth outlook beyond 2030


TotalEnergies said it also has significant visibility on
production growth beyond 2030.







In oil and gas, the company has a portfolio of projects in
countries including Namibia, Nigeria, Libya, Malaysia, Mozambique
and Papua New Guinea. Together with a proven reserves life of more
than 12 years, this portfolio is expected to support an oil and gas
production plateau of around 3 million barrels of oil equivalent
per day through 2035.


Building on its exploration track record and access to
discovered resources, TotalEnergies aims to increase oil and gas
production by 2%–3% annually between 2030 and 2035.


The company also plans to maintain strong growth in electricity
generation, targeting an increase in net power generation of 10–12
TWh per year over the same period. This growth will be supported by
its integrated business model in key deregulated markets, expansion
of its renewable energy platform and pipeline, and development of
flexible generation and storage opportunities, including
gas-to-power and batteries in the US and Europe.


Under these plans, electricity is expected to account for around
25% of TotalEnergies' energy mix by 2035. To finance its
longer-term growth, TotalEnergies plans net investments of between
$14 billion and $17 billion annually from 2027 to 2032.


TotalEnergies is a global integrated energy company active in
oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewables
and electricity. The company operates in around 120 countries and
employs more than 100,000 people.