By April 19, 2016 Read More →

Total SA creates Gas, Renewables & Power segment

Total responds to low oil prices with renewables department, improved efficiency

Total

Total unveiled its plan to develop a division that will spearhead the company’s goals in the electricity value chain.  Martin Bureau AFP photo.

PARIS _ French energy giant Total SA has created a plan company officials believe will strengthen its position as a global energy leader while tackling climate change and taking on low crude prices.

The project dubbed “One Total” was unveiled to employee representatives and the media on Tuesday.

A major part of the new plan includes the creation of the Gas, Renewables & Power segment which will spearhead the company’s goals in the electricity value chain by expanding in gas midstream and downstream, renewable energies and energy efficiency.

 

 

“We intend to deploy a proactive strategy in gas markets to meet demand and identify new outlets for our production. We will also produce and sell power from renewable sources.” said Patric Pouyanné, Chariman and CEO of Total SA.

“Electricity will be the energy of the 21st century and the growth of gas and renewables is pushing us to take a value chain approach to electricity.”

According to Pouyanné, Total’s 20-year goals include being in the top three in solar power, expanding electricity trading and energy storage and to lead in biofuels, in particular biojet fuel and look to develop other renewable energies.

“Our ambition is to create a new business that will help make Total the responsible energy major.”

The company hopes to deploy the new Gas, Renewables & Power segment by Sept. 2016.

The remaining parts of the plan centre around company organization and improving efficiencies in the Total organization.

Total SA says no jobs will be lost and no employees will be subject to geographic relocation under “One Total”.

 

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