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24/02/2022 News

TotalEnergies Charters “Eagle Valence”, its first LNG-powered Very Large Crude Carrier

Paris, February 24, 2022 – In line with its strategy to reduce greenhouse gas emissions in maritime transport, TotalEnergies charters its first newbuilt LNG-powered Very Large Crude Carrier (VLCC), “Eagle Valence”, under a long-term chartering agreement with ship-owner AET. She is joining TotalEnergies time charter fleet, and her sister ship currently under construction is expected to be delivered in the second quarter of this year.

Attending the naming ceremony, Luc Gillet, Senior Vice President, Shipping at TotalEnergies, said: “We are pleased to welcome the Eagle Valence to TotalEnergies’ time-chartered fleet. The Eagle Valence is the first of a broader program of six newbuilt tankers designed with LNG dual-fuel propulsion and the latest technologies to provide best-in-class levels of greenhouse gas emissions and performance. This first LNG-powered vessel is a key component of our strategy to reduce the emissions generated during the transportation of our product to our customers. We look forward to receiving five additional LNG-powered ships between 2022 and 2023. LNG as a marine fuel remains the best immediately available solution for reducing our shipping carbon footprint.”

The Eagle Valence will leverage the LNG bunkering network of TotalEnergies Marine Fuels, TotalEnergies’ dedicated business unit in charge of worldwide bunkering activities, for their supply of LNG marine fuel.

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LNG marine fuel is the best immediately available solution for reducing the environmental footprint of maritime transport. It helps to cut:

  • Sulfur emissions by 99%
  • Fine particle emissions by 99%
  • Nitrogen oxide emissions by up to 85%
  • Greenhouse gas emissions by up to 23% (Well-to-Wake)1

1. Sphera’s “2nd Life Cycle GHG Emission Study on the Use of LNG as Marine Fuel” study:

TotalEnergies supports the growing role of LNG in shipping’s energy transition
TotalEnergies has actively invested in LNG bunkering infrastructure, critical to support its shipping customers’ uptake of LNG as a marine fuel. TotalEnergies currently operates two 18,600-m³ LNG bunker vessels: the Gas Agility, at the Port of Rotterdam, Netherlands; and the Gas Vitality, at the Port of Marseille-Fos, France. Since the start of its LNG bunkering operations in November 2020, the Company has supplied more than 400,000 m3 of LNG, in key European hubs. A third LNG bunker vessel is expected to start operations in 2022, at the Port of Singapore, where the Company has been awarded an LNG bunker supplier license for a five-year term since January 1st, 2022.

TotalEnergies, Second Largest Global LNG Player
TotalEnergies is the world's second largest publicly traded LNG player, with a global portfolio of nearly 50 Mt/y by 2025 and a global market share of around 10%. Thanks to its interests in liquefaction plants in Angola, Australia, Egypt, the United Arab Emirates, the United States, Nigeria, Norway, Oman, Russia and Qatar, the company markets LNG on all world markets. TotalEnergies also benefits from strong and diversified positions throughout the LNG value chain, including gas production, LNG transportation, LNG trading, and some recent development in the LNG industry for maritime transport.

About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).