Denmark: TotalEnergies Restarts Gas Production at the Tyra Offshore Hub after a Major Redevelopment

Rhea-AI Summary

TotalEnergies announces the restart of production from the Tyra hub in the Danish North Sea, showcasing increased gas and condensate output. The project enhances Denmark's energy independence and reduces greenhouse gas emissions. The partnership between TotalEnergies, BlueNord, and Nordsøfonden proves successful in achieving this milestone.

Insights

Energy Sector Analyst

The recommencement of operations at the Tyra hub by TotalEnergies signifies a notable development for the energy sector, particularly within the European context. The Tyra hub's projected output of 5.7 million cubic meters of gas and 22,000 barrels of condensate per day is set to restore Denmark's status as a self-sufficient entity and a net exporter of natural gas. This is significant given Europe's ongoing energy supply concerns, especially in light of geopolitical tensions and the transition towards renewable energy sources.

From an economic standpoint, the Tyra hub's return to functionality could potentially stabilize or even lower gas prices regionally due to increased supply. For TotalEnergies and its partners, this translates into a boost in revenue streams and possibly enhanced stock market performance. The emphasis on a 30% reduction in greenhouse gas emissions aligns with the growing investor interest in environmental, social and governance (ESG) criteria, which could positively influence investor sentiment and attract ESG-focused investments.

Environmental Policy Expert

The redevelopment of the Tyra hub incorporates advanced digital solutions and technological innovations aimed at increasing efficiency and reducing greenhouse gas emissions. The environmental implications of this project are noteworthy, particularly the claim of a 30% reduction in emissions compared to the former facilities. This positions TotalEnergies as a leader in sustainable practices within the offshore gas sector, potentially setting a precedent for future redevelopment projects.

The recycling and reuse of 98.5% of materials from the decommissioned facilities demonstrate a commitment to circular economy principles, which could serve as a model for the industry. This aspect of the project may influence regulatory discussions and stakeholder expectations regarding environmental responsibility in energy infrastructure projects.

Market Research Analyst

The strategic importance of the Tyra hub's production capabilities cannot be understated in the context of European energy security. The hub's connectivity through export pipelines to Nybro in Denmark and Den Helder in the Netherlands enhances the resilience of the European gas supply network. The ability to efficiently deliver gas to key markets may offer TotalEnergies a competitive edge in the region, potentially affecting market dynamics and the bargaining power of gas suppliers.

Long-term, the Tyra hub's role in supporting Denmark's energy independence and its contribution as a net exporter could influence regional energy policy and trade balances. For investors, the project's success may indicate the potential for stable, long-term returns, particularly as Europe seeks to diversify its energy sources amidst shifting geopolitical landscapes.

PARIS & COPENHAGEN, Denmark--(BUSINESS WIRE)-- Regulatory News:

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the restart of production from the Tyra hub in the Danish North Sea, after the completion of a major redevelopment project of this hub. At plateau, the Tyra hub will produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day, once again making Denmark self-sufficient and a net exporter of natural gas. TotalEnergies operates the Tyra field on behalf of Danish Underground Consortium, a partnership between TotalEnergies (43.2%), BlueNord (36.8%) and Nordsøfonden (20%).

“We are pleased to restart the Tyra hub, one of the most technologically advanced offshore gas installations in the world. The success of this major redevelopment project owes a lot to the commitment of our teams, our partners and our contractors. The new Tyra leverages state-of-the-art digital solutions and technological innovations to produce more efficiently and with 30% lower greenhouse gas emissions than the former facilities”, said Nicolas Terraz President, Exploration & Production at TotalEnergies. “Importantly, the resumption of gas production from Tyra improves Europe’s security of supply.”

Discovered in 1968 by Maersk Oil, Tyra is located 225 kilometres west of the coast of Esbjerg. In September 2019, gas production was suspended to enable the redevelopment of Tyra. Following the decommissioning of the previous Tyra facilities, 8 new platform topsides, 2 jackets and 6 bridges were installed. As part of this redevelopment project, 98.5% of the materials recovered from the retired installations have been reused or recycled.

Gas from the Tyra hub is delivered to Europe through two export pipelines to Nybro in Denmark and Den Helder in the Netherlands.

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About TotalEnergies in Denmark

TotalEnergies is a leading energy company in Denmark, with operations in oil & gas as well as renewable electricity, employing a diverse and international workforce of around 1,200 people located in Esbjerg, offshore, and in Copenhagen. TotalEnergies operates more than 80% of oil and 90% of gas produced in Denmark, with a strong focus on emissions reductions as demonstrated by the end of routine flaring on its assets in 2023. In addition, the Company is developing carbon storage projects in the country, which could store up to 5 Mt/y of CO2 by 2030. In Integrated Power, TotalEnergies is developing two offshore wind projects (for a capacity of 405 MW) and is working on developing additional activities in wind, solar energy and biogas. Dating back more than half a century, our operations deliver an important contribution to the Danish energy supply, economy, and employment.

About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, more sustainable, more reliable and accessible to as many people as possible. Active in nearly 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.

@TotalEnergies | TotalEnergies | TotalEnergies | TotalEnergies

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. 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 Universal 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).

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TotalEnergies

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR

Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com

Source: TOTALENERGIES SE

FAQ

What is the significance of the Tyra hub restart for TotalEnergies (TTE) and Denmark?

The restart of production at the Tyra hub by TotalEnergies increases gas and condensate output, making Denmark self-sufficient and a net exporter of natural gas, enhancing energy security.

Who operates the Tyra field on behalf of Danish Underground Consortium?

TotalEnergies operates the Tyra field on behalf of Danish Underground Consortium, a partnership between TotalEnergies (43.2%), BlueNord (36.8%), and Nordsøfonden (20%).

What technological advancements have been implemented in the redevelopment project of the Tyra hub?

The new Tyra hub leverages state-of-the-art digital solutions and technological innovations to produce more efficiently and with 30% lower greenhouse gas emissions than the former facilities.

Where is the Tyra field located and when was it discovered?

The Tyra field, discovered in 1968 by Maersk Oil, is located 225 kilometres west of the coast of Esbjerg.

How is the gas from the Tyra hub delivered to Europe?

Gas from the Tyra hub is delivered to Europe through two export pipelines to Nybro in Denmark and Den Helder in the Netherlands.