TotalEnergies To Power Europe With Moroccan Green Hydrogen And New North Sea Gas Find

TotalEnergies SE (NYSE:TTE) shares are trading higher premarket on Tuesday. The company inked a Preliminary Contract for Land Reservation with the Moroccan government for the ‘Chbika' project.

This agreement allows TE H2, a joint venture between TotalEnergies and EREN Group, and partners Copenhagen Infrastructure Partners (CIP) and A.P. Møller Capital, to initiate pre-FEED studies.

The ‘Chbika’ project in Morocco’s Guelmim-Oued Noun region aims to generate 1 GW of solar and wind energy to produce green hydrogen from seawater, creating 200,000 tons of green ammonia annually for Europe.

David Corchia, CEO of TE H2, stated, "The signing of this Preliminary Contract for Land Reservation is a decisive first step for the launch of ...