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  • TotalEnergies acquires 100% of TLCS, a leading U.S. carbon capture company
  • Gains significant stake in Bayou Bend CCS project in Texas
  • Plans to divest from Harvest Bend and Coastal Bend projects post-acquisition

Paris, France — TotalEnergies said Monday, it acquired Talos Low Carbon Solutions, a pioneering American company in carbon capture and storage (CCS) technology.

Thus, the French energy giant, is gaining stakes in projects like Bayou Bend in Texas to reduce emissions, marking progress towards their carbon neutrality goal by 2050. This strategic move marks a significant expansion of TotalEnergies’ carbon capture footprint and aligns with its commitment to reducing carbon emissions.

Following the acquisition, TotalEnergies will own a 25% stake in the Bayou Bend CCS project in Texas, alongside Chevron (50%, operator) and Equinor (25%). Bayou Bend is a major CO2 storage project located near TotalEnergies’ existing assets in the region.

With permits for underground CO2 storage on land and offshore across approximately 600 square kilometers, Bayou Bend has the potential to store several hundred million tonnes of CO2.

Its favorable location, significant storage capacity, and geological characteristics position Bayou Bend as a world-leading opportunity for CCS development.

In addition to its involvement in Bayou Bend, TotalEnergies will acquire a 65% operating stake in the Harvest Bend project in Louisiana and a 50% stake in the Coastal Bend project in Texas.

However, due to the distance from its existing assets, TotalEnergies plans to divest from these two projects after the acquisition is completed.

Bayou Bend represents a crucial carbon transport and storage project, serving industrial emitters in the Houston and Beaumont – Port Arthur corridor, a major industrial hub in the United States.

TotalEnergies Surpasses 1.5 GW in Renewable Energy Contracts Globally

By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

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