Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. TotalEnergies SE
  6. News
  7. Summary
    TTE   FR0000120271

TOTALENERGIES SE

(TTE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

REUTERS EVENT-Big Oil's move to offshore wind risks inflating seabed prices - Orsted

06/21/2021 | 08:00am EDT

COPENHAGEN, June 21 (Reuters) - The world's largest offshore wind developer Orsted is concerned that Big Oil's eagerness to harness wind at sea could push up prices for seabed leases, making the technology less competitive, its chief executive told Reuters.

European oil firms including Total, BP, Equinor and Shell have all outlined plans to speed up investments in renewables, including offshore wind, as they look to reduce their reliance on oil and gas to satisfy investors and governments which are demanding reductions in emissions.

"Short term we have seen it already, and it's a real and genuine concern," Orsted Chief Executive Mads Nipper told Reuters in an interview for the upcoming Reuters Events: Global Energy Transition conference.

He said seabed options around the coast of England, Wales and Northern Ireland had been awarded at "very high prices" at a leasing round held by the Crown Estate earlier this year.

"Our concern is that if that inflation continues it will eventually come to the disadvantage of the speed with which we accelerate the technology or the competitiveness of the technology," he said.

He urged politicians to make more seabed available for offshore wind farms and streamline consenting and permitting processes. "If substantial amounts are to be made available then there is going to be enough for everybody".

"For offshore wind, having sufficient availability of seabed that is even remotely affordable that is just one of the things that is really, really vital ... It needs to happen quite urgently," Nipper, who joined Orsted in January, said.

The offshore wind industry is facing a pivotal moment as governments around the world, excluding China, target installed capacity of 170 GW by 2030, up from just 24 GW today.

Nipper said he believes there is political commitment to reach that goal despite the current mismatch between ambitious climate targets and actual capacity in companies' project pipelines.

"We are starting to see that move faster already," he said, pointing to upcoming leasing rounds in Scotland and New York state.

For more on the Reuters Events: Global Energy Transition conference, please click here [https://reutersevents.com/events/energy-transition-global/ ] (Reporting by Stine Jacobsen; Editing by Jan Harvey)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 1.14% 309.45 Delayed Quote.20.13%
EQUINOR ASA 0.82% 177.76 Real-time Quote.21.64%
LONDON BRENT OIL 0.50% 72.7 Delayed Quote.45.28%
ORSTED A/S 0.60% 939.8 Delayed Quote.-24.83%
TOTALENERGIES SE 0.32% 37.81 Real-time Quote.6.77%
WTI 0.39% 70.67 Delayed Quote.52.97%
All news about TOTALENERGIES SE
08/03SUNPOWER : Q2 Earnings Snapshot
AQ
08/03SUNPOWER CORP : Results of Operations and Financial Condition, Financial Stateme..
AQ
08/03Global markets live: Sanofi, Alphabet, BMW, Ford, Tencent...
08/03BP : shares climb after payout boost, energising transition
RE
08/03SECTOR UPDATE : Energy Stocks Slip Pre-Bell Tuesday
MT
08/03TotalEnergies Advances Phase 4 of Mero Oilfield Project Offshore Brazil
MT
08/03TOTALENERGIES : Start Fourth Phase Of Offshore Project In Brazil
MT
08/03BRAZIL : TotalEnergies Launches Phase 4 On the Giant Mero Field Development
BU
08/03Travis Perkins plc - Half year results for the -3-
DJ
08/03PRESS RELEASE : Cliq Digital AG: Strongest first half-year ever, Customer Base V..
DJ
More news
Financials (USD)
Sales 2021 184 B - -
Net income 2021 12 958 M - -
Net Debt 2021 33 786 M - -
P/E ratio 2021 9,35x
Yield 2021 7,10%
Capitalization 118 B 118 B -
EV / Sales 2021 0,83x
EV / Sales 2022 0,84x
Nbr of Employees 105 476
Free-Float 93,6%
Chart TOTALENERGIES SE
Duration : Period :
TotalEnergies SE Technical Analysis Chart | TTE | FR0000120271 | MarketScreener
Technical analysis trends TOTALENERGIES SE
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Last Close Price 44,73 $
Average target price 57,71 $
Spread / Average Target 29,0%
EPS Revisions
Managers and Directors
Patrick PouyannÚ Chairman & Chief Executive Officer
Jean-Pierre Gerard Claude Sbraire Chief Financial Officer
Marie-Noelle Semeria Chief Technology Officer
Patrick Artus Independent Director
Marie-Christine Coisne-Roquette Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
TOTALENERGIES SE6.77%117 974
SAUDI ARABIAN OIL COMPANY0.29%1 862 709
ROYAL DUTCH SHELL PLC19.89%156 756
PETROCHINA COMPANY LIMITED36.67%125 979
PUBLIC JOINT STOCK COMPANY GAZPROM34.92%92 770
ROSNEFT OIL COMPANY31.81%71 210