TotalEnergies Sets Out Growth Plan Until 2035

By Aimee Look

TotalEnergies laid out its growth objectives to expand energy capacity beyond 2030, supported by billions of dollars in investment each year.

The French energy company said it plans to invest between $14 billion and $17 billion per year between 2027 and 2032. It expects its oil and gas segment to have around 2% to 3% output growth per year between 2030 to 2035, enabled by its portfolio of organic projects.

For its electricity segment, it expects net power generation of 10-12 terawatt-hours per year over 2030 to 2035. TotalEnergies expects electricity to represent around one-fourth of its energy mix--which also includes oil and gas--by the end of that period, it said.

TotalEnergies also said its board authorized share buybacks of $2.5 billion for the fourth quarter of 2026 and between $2 billion and $2.5 billion for the subsequent quarter.

For the nearer timeframe of 2030, the company largely backed its outlook. It is expecting 4% yearly growth in energy production. For oil and gas production, it expects 3% growth on average per year between 2025 and 2030.

In electricity, it foresees 20% growth in generation per year, and that by the end of 2030 the segment's production will make up around one-fifth of its energy mix.

Cash-accretive new production will translate into a robust free cash flow increase of around $10 billion from 2025 to 2030 at same price deck, it said.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

September 28, 2026 03:30 ET (07:30 GMT)