Our Strategy

Our Strategy

Meeting growing global energy demand, while reducing the greenhouse gas emissions associated with energy production and use: faced with this double challenge, we are developing an integrated and balanced multi-energy transition strategy, reasserting our ambition of achieving carbon neutrality by 2050, together with society.

More energy, less emissions

Energy is an essential resource, everywhere indispensable for living: for food, lighting, heating and cooling, transport, healthcare, construction and trade. It is also at the heart of the climate challenge, as the global energy system still relies 80% on fossil fuels.

Historically, energy demand has increased in line with demographics and rising living standards. The global population is set to increase by almost 2 billion inhabitants between 2023 and 2050. This outlook will have significant consequences on the achievement of the UN Sustainable Development Goals (SDGs) to improve prosperity and social well-being while protecting the environment and biodiversity.

There is an urgent need to accelerate the development of a decarbonized energy system, while maintaining the current energy system at a high enough level to be able to meet global demand and organize a just, orderly and equitable transition of energy systems.

A balanced integrated multi-energy strategy

Our integrated multi-energy strategy is built on two pillars: Oil & Gas – in particular liquefied natural gas (LNG) – and Electricity (Integrated Power), the energy at the heart of the transition.

Responsible, low-cost, low-emission oil & gas production

While drastically reducing the emissions of our operations, we plan to increase our oil and gas production – primarily LNG, which is key to the energy transition – by 2 to 3% per year over the next five years.

Our main responsibility as a producer of hydrocarbons is to reduce the greenhouse gas emissions associated with their production. This is why the key indicator or our progress in this Oil & Gas pillar is the reduction in Scope 1+2 emissions(1).

Our objective of reducing Scope 1+2 net emissions by 2030, compared to 2015

(1) Net emissions, including nature-based carbon sinks from 2030.

Integrated Power: developing a profitable business model on the electricity value chain

We intend to replicate our integrated Oil & Gas model on the electricity value chain. We are constructing a competitive portfolio of renewable (solar, onshore wind, offshore wind) and flexible (CCGT, storage) assets so that we can provide our customers with low-carbon electricity available 24 hours a day. We plan to increase our electricity production to more than 100 TWh by 2030. In addition, we are also investing in low-carbon molecules: biofuels and biogas, as well as hydrogen and its derivatives: e-fuels and Sustainable Aviation Fuel (SAF).

The key indicator of our progress to measure our transition to low-carbon energy products is the lifecycle carbon intensity of the energy products used by our customers(2). The decrease in this carbon intensity reflects our progression in the implementation of this transition strategy.

100 TWh/year
Our objective of net electricity production by 2030

(2) Lifecycle carbon intensity of energy products sold This indicator measures the average GHG emissions of a unit of energy used by the Company’s customers across its lifecycle (i.e., Scope 1+2+3), from production to end use by customers.

A net-zero company in 2050, together with society: our production mix in 2050


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