TotalEnergies Outlines 2025 Strategy and Long-Term Growth Outlook
Patrick Pouyanné, Chairman and CEO of TotalEnergies, together with members of the Company’s Executive Committee, unveiled TotalEnergies’ Strategy and Outlook today at an event in New York. The presentation, available as a live broadcast in English at totalenergies.com, highlighted the Company’s plans to maintain a balanced and profitable energy transition while driving long-term growth in both traditional and low-carbon energy segments.
At the core of TotalEnergies’ approach is a disciplined transition strategy built around two complementary pillars: Oil & Gas, with a particular focus on liquefied natural gas (LNG), and Integrated Power, which encompasses electricity generation with a growing share of renewables. The Company has committed to increasing its overall energy production—including oil, gas, and electricity—by approximately 4% per year through 2030. Simultaneously, TotalEnergies aims to significantly reduce its environmental footprint, targeting a 50% reduction in operational emissions for its Oil & Gas Scope 1 and 2 by 2030 compared to 2015 levels. Methane emissions are expected to drop even further, with an 80% reduction forecast by 2030 relative to 2020.
In line with these growth and sustainability objectives, TotalEnergies announced a $7.5 billion savings initiative covering both capital expenditures (Capex) and operational expenditures (Opex) between 2026 and 2030. As part of this program, the Company has revised its net Capex guidance, now targeting approximately $16 billion in 2026 and a range of $15–17 billion per year from 2027 through 2030. This represents a $1 billion annual reduction from previous projections. Despite the cost discipline, TotalEnergies will maintain a strategic focus on high-margin upstream projects, ensuring that capital allocation is both selective and value-accretive. Low-carbon investments, including the Integrated Power business, are projected to represent around $4 billion per year, with $3–4 billion specifically allocated to advancing the Company’s electricity and renewable initiatives.
Upstream Growth and LNG Expansion
TotalEnergies expects oil and gas production to grow by around 3% per year between 2024 and 2030, underpinned by the development of high-quality projects from its extensive portfolio. Notably, 95% of the Company’s projected 2030 production will either be already operational or in active development. Over the next two years, 2025 and 2026, production growth is anticipated to exceed 3% annually, benefiting from the start-up of several high-margin oil projects across strategic regions including offshore U.S., Brazil, Iraq, and Uganda. Complementing oil development, major LNG and gas projects such as North Field East (NFE) in Qatar and Jerun in Malaysia are expected to contribute significantly to production growth and cash flow generation.
The Company’s Integrated LNG business is projected to drive substantial cash flow growth. By 2030, cash flow from this segment is expected to increase by more than 70% compared to 2024 levels, assuming $70 per barrel of Brent crude and $8 per MMBtu of natural gas. This growth is largely fueled by a 50% increase in LNG sales, primarily originating from competitive projects in the United States and Qatar, including the Rio Grande LNG Train 1–4 in the U.S. and NFE/NFS projects in Qatar. To further strengthen its position, TotalEnergies plans to enhance gas-to-power integration, particularly in the U.S. and Europe, thereby consolidating the profitability and resilience of its Integrated Power business model.
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
