TotalEnergies has signed an agreement with European Energy to develop offshore wind projects in Sweden, Finland and Denmark, the company announced Jan. 23.
The partners intend to develop and operate new large scale offshore wind projects in Sweden and Finland through a joint venture, and to bid for the upcoming offshore wind tenders in Denmark.
Per the agreement, TotalEnergies will acquire an a 85% equity stake in the Jammerland Bugt offshore wind project and a 72.2% equity stake in the Lillebaelt South nearshore wind project.
The projects—both located in Denmark—hold 240 MW and 165 MW of energy, respectively. The energy generated by these sites will be sold either directly on the electricity wholesale market or through corporate power purchase agreements.
Both Jammerland Bugt and Lillebaelt South were confirmed by the Danish Energy Agency in December 2023 and have obtained exclusivity and grid connection permits. The final construction permits are expected in mid-2024, with start up by 2030.
Recommended Reading
Exxon’s Guyana Gas Project a “Win-Win,” Set for Hook-up by Year-end ‘24
2024-04-26 - Exxon Mobil Corp. CEO Darren Woods said the company’s gas-to-power project in Guyana as a “win-win proposition particularly for the people of Guyana” when completed and hooked-up by year-end 2024.
Segrist: The LNG Pause and a Big, Dumb Question
2024-04-25 - In trying to understand the White House’s decision to pause LNG export permits and wondering if it’s just a red herring, one big, dumb question must be asked.
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
2024-04-23 - Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.
US Refiners to Face Tighter Heavy Spreads this Summer TPH
2024-04-22 - Tudor, Pickering, Holt and Co. (TPH) expects fairly tight heavy crude discounts in the U.S. this summer and beyond owing to lower imports of Canadian, Mexican and Venezuelan crudes.
What's Affecting Oil Prices This Week? (April 22, 2024)
2024-04-22 - Stratas Advisors predict that despite geopolitical tensions, the oil supply will not be disrupted, even with the U.S. House of Representatives inserting sanctions on Iran’s oil exports.