TotalEnergies SE (NYSE: TTE) has signed a joint development and operating deal with TES and three Japanese companies, Osaka Gas, Toho Gas, and ITOCHU, for the Live Oak project in Nebraska.
The Live Oak project is a large-scale facility under development to produce electric natural gas (e-NG), also known as e-methane.
e-NG is a synthetic gas produced from renewable hydrogen and CO₂, which is chemically identical to natural gas and can move through existing LNG infrastructure without equipment changes for end users.
Project Development Timeline
The partners are entering the Front-End Engineering Design phase with plans for roughly 250 MW of electrolysis capacity and 75,000 tons per year of methanation.
The companies expect the final investment decision in 2027. The project is slated to begin commercial operations in 2030, with e-NG exports to Japan, where Osaka Gas and Toho Gas will be the main offtakers.
Notably, the initiative supports Japan’s target to inject 1% carbon-neutral gas, including e-NG, into its national gas grid by 2030.
Recent Deals
On Monday, TotalEnergies disclosed that TotalEnergies EP Nigeria has agreed to sell a 40% interest in the PPL 2000 and PPL 2001 exploration licenses to a Chevron Corporation (NYSE: CVX) company.
In November, TotalEnergies disclosed that it will acquire a 50% stake in the flexible power generation portfolio from Energetický a průmyslový holding, a.s. (EPH) at an enterprise value of 10.6 billion euros ($12.3 billion).
The acquisition spans a portfolio of over 14 GW of flexible generation capacity, gas-fired plants, biomass facilities, and batteries, either in operation or under construction.
TTE Price Action: TotalEnergies shares were up 0.24% at $65.79 during premarket trading on Tuesday. The stock is trading near its 52-week high of $65.97, according to Benzinga Pro data.