US stock futures dip as Trump’s firing of Cook sparks Fed independence fears
ANTWERP, Belgium - TotalEnergies (EPA:TTEF) (Paris:TTE) (LSE:TTE) (NYSE:TTE) has announced plans to adapt its Antwerp platform to enhance competitiveness and align with energy transition goals. The integrated refining and petrochemicals site in Antwerp, a key location for TotalEnergies for over 75 years, will undergo a reconfiguration to meet market demands and contribute to decarbonization efforts.
The company has outlined several initiatives aimed at reducing its carbon footprint and responding to market trends. A significant step includes the production of 15,000 tons of green hydrogen annually through a tolling agreement with Air Liquide (OTC:AIQUY) for a 200 MW electrolyzer project, powered by green electricity from TotalEnergies’ OranjeWind offshore wind project. This initiative, expected to complete by the end of 2027, is projected to cut CO2 emissions by up to 150,000 tons per year at the Antwerp site.
TotalEnergies is also venturing into sustainable aviation fuel (SAF) production, with a plan to produce 50,000 tons per year through coprocessing starting in 2025. This method integrates the treatment of hydrocarbons and biomass within a conventional refining unit.
In addition to decarbonization, TotalEnergies has implemented a battery storage system with a power rating of 25 MW and a capacity of 75 MWh, aiding in balancing the Belgian and European high-voltage transmission grids. This system, commissioned last year, is TotalEnergies’ largest in Europe and supports the integration of renewable energies by compensating for their intermittency.
To address overcapacity in the petrochemicals market, TotalEnergies intends to shut down its oldest steam cracker in Antwerp by the end of 2027. This decision follows the non-renewal of a major contract for ethylene supply with a third-party user. The company plans to focus on its more recent steam cracker, which supplies ethylene to TotalEnergies’ industrial units in Antwerp and Feluy. The reconfiguration will be executed without layoffs, offering the 253 affected employees options for retirement or internal transfer to other positions at the Antwerp site. The proposal is subject to employee consultation and notification processes set to begin in late April.
This strategic shift underscores TotalEnergies’ commitment to sustainability and its strategy to balance economic viability with environmental responsibility. The information presented is based on a press release statement from TotalEnergies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.