TotalEnergies and Air France-KLM have come together to make a big commitment to sustainability by signing a deal for the supply of up to 1.5 million tons of sustainable aviation fuel (SAF) over the next decade. This agreement, which runs through 2035, is a significant step towards reducing the carbon footprint of air travel. It follows a previous memorandum of understanding for 800,000 tons of SAF that was established in 2022.
Patrick Pouyanné, the Chairman and CEO of TotalEnergies, emphasized the importance of SAF in both the energy transition of the aviation sector and the industrial transformation of refineries. He sees this partnership as a win-win for the future of both industries. Benjamin Smith, the Chief Executive Officer of Air France-KLM Group, highlighted the challenge of securing sufficient volumes of sustainable aviation fuel to decarbonize their operations. He sees the agreement with TotalEnergies as a significant step in the right direction and a testament to their ongoing support for SAF production in France and Europe.
TotalEnergies has made substantial investments in transitioning its refinery into a biorefinery, with plans to process 100% of waste from the circular economy by 2024 and produce SAF by 2025. Additionally, the company has extended its sales and purchase agreement with CNOOC and signed a long-term deal with BOTA? to supply LNG. TotalEnergies has also entered into a joint venture with Adani Green for a large solar project in India, demonstrating its commitment to renewable energy.
Investors interested in TotalEnergies can access the stock through various ETFs like Advisor Managed Portfolios Miller Value Partners Appreciation ETF and Octane All-Cap Value Energy ETF. Despite a slight dip in share price recently, TotalEnergies continues to make strides in sustainable energy solutions and partnerships that pave the way for a greener future in aviation and beyond.