TotalEnergies Budgets $60bn For Energy Transition, To Increase Investment In Nigeria

Total is also promising a robust midstream investment in Nigeria as the country unleashes gas investment initiative to harness the potential in the gas industry.

The company’s executive general manager, Bunmi Poopla-Mordi, who announced this at a web conference with journalists on Wednesday, said with the investment, her company hopes to grow its renewable capacity to 100million gigawatts and five million biofuels. She said her company was determined to reduce direct emission by 40 per cent in 2030 and net zero in 2050 as part of its adherence to Paris protocol on climate change .

Poopola-Mordi stated that the company was also committed to partnership and sustainable development in the fight against global corruption, poverty and environmental degradation. She maintained that the company’s recent name change was a game-changer, which followed ambitious trajectory since 1954 and defined its current state and aspiration for global energy transformationShe said the company was desirous of keying into the country oil and gas development with its energy transition projects of which Nigeria would be one of the greatest beneficiaries due to its importance in global energy rating.

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