President, Exploration & Production, TotalEnergies SE
WPC 2023 - Nicolas Terraz - Plenary session 4: Geopolitics and Global Trade: What Can Be Done Today?
Nicolas Terraz, President of Exploration & Production, member of the Executive Committee of TotalEnergies Watch the full ...
Transcript (2 segments)
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Moderator0:03
I'd like to invite Nicolas for the first statement on how you see it from the extractive industry perspective, which I think is one of the industries that, if there's an industry that already has a good... but I think there are other areas.
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Nicolas Terraz0:27
Good afternoon everyone. Let me join the panel. At TotalEnergies, managing geopolitical risks is key. I have five or six principles. First, safety and security of our people is our top value. We have golden rules and safety frameworks. Second, compliance with international sanctions. Third, diversification across countries and assets—in the Americas, Middle East, Africa, Europe. We also invest in integrated power. Fourth, financial discipline and a strong balance sheet to weather volatility. Fifth, preparation and crisis management; during COVID we never stopped production. We build long-term partnerships, like with ADNOC in the UAE and Qatar for LNG exports. Local integration, such as distribution networks in Africa, adds resilience. On energy transition, we aim to provide more energy with fewer emissions. We focus on reducing scope 2 emissions, partner with national companies on methane reduction, and develop multi-energy projects like in Iraq—oil, gas, and 1 GW solar. Thank you.