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    Jean-Luc Romain • CIC Market Solutions

    Jean-Luc Romain's questions to TotalEnergies SE (TTE) leadership

    Jean-Luc Romain's questions to TotalEnergies SE (TTE) leadership • Q2 2025

    Question

    Jean-Luc Romain from CIC Market Solutions asked if the planned H2 asset sales in Integrated Power would bring the division's RoCE back into the 10-12% target range, and requested a breakdown of the acquired VSB portfolio.

    Answer

    Patrick Pouyanné, Chairman & CEO, stated that the RoCE for Integrated Power would not reach the 12% target in 2025, as the business is still in a growth phase with increasing capital employed. He anticipates a RoCE in the 9-10% range for the full year. He did not have the specific breakdown of the VSB portfolio on hand but noted that several projects from it had already been approved for development.

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    Jean-Luc Romain's questions to TotalEnergies SE (TTE) leadership • Q2 2024

    Question

    Jean-Luc Romain of CIC Market Solutions asked how the company captures value from its Texas integrated power assets during heatwaves and inquired about the utilization rate of its U.S. gas power plants.

    Answer

    CEO Patrick Pouyanné explained that the Texas gas-fired power plants are used at a very high rate during summer heatwaves, driving electricity prices and demonstrating the value of the acquisition. He noted a counter-seasonal effect compared to Europe, where summer utilization is low. He expects a strong positive impact on Q3 results, as the company will have a full quarter of ownership during the peak heatwave period.

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    Jean-Luc Romain's questions to TotalEnergies SE (TTE) leadership • Q1 2024

    Question

    Jean-Luc Romain from CIC Market Solutions questioned if the high level of organic CapEx in the Integrated Power segment seen in Q1 would continue or accelerate through 2024.

    Answer

    CEO Patrick Pouyanné explained that the quarterly figure represents gross organic CapEx, while the full-year guidance is for net CapEx. He anticipates that farm-downs (asset sales) booked in the second half of the year will offset the initial spending, bringing the total in line with the ~$5 billion net investment plan for the segment. He affirmed the capital allocation to the segment will remain disciplined at around 33% of the total.

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    Jean-Luc Romain's questions to Technip Energies NV (THNPY) leadership

    Jean-Luc Romain's questions to Technip Energies NV (THNPY) leadership • Q1 2025

    Question

    Jean-Luc Romain of CIC Market Solutions asked if the recently announced gas compression contract in Qatar is a prerequisite for advancing the North Field West project or the debottlenecking of Qatar Gas 2, 3, and 4.

    Answer

    CEO Arnaud Pieton clarified that the contract is a pure service contract for engineering and is certainly part of the broader development for the debottlenecking of Qatar Gas 2, 3, and 4. He could not confirm a direct connection to the North Field West project.

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    Jean-Luc Romain's questions to Technip Energies NV (THNPY) leadership • Q1 2024

    Question

    Jean-Luc Romain inquired about the potential implications for Technip Energies if Qatar Energy decided to refurbish its existing LNG facilities to reduce emissions. He also asked about the opportunity presented by new U.S. EPA rules mandating CCS for power plants.

    Answer

    Executive Arnaud Pieton responded that while modernizing Qatar's existing LNG fleet is not currently planned, Technip Energies would be a natural partner for such a project. He views the new EPA regulations as a significant opportunity that confirms the company's strategic focus on carbon capture and will support further geographic diversification.

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