TotalEnergies SE – Recent Developments

1. Impact of the European Union Ban on Russian LNG

The European Union is set to enforce a ban on imports of Russian liquefied natural gas (LNG) beginning in 2027. In response, TotalEnergies SE has confirmed its compliance with the forthcoming regulation and announced that it will be able to replace the Russian supplies without significant operational disruption. The company’s CEO, Patrick Pouyanné, emphasized that the firm can meet its gas demand by sourcing LNG from alternative suppliers.

At the same time, TotalEnergies has indicated that it may consider a complete halt to the export of LNG from the Yamal LNG project in Russia if the EU ban is interpreted to include exports. While the company maintains a position on Yamal LNG, it is actively seeking clarification from EU authorities on the scope of the ban and its implications for ongoing projects.

2. Financial Performance and Shareholder Policy

TotalEnergies reported strong earnings for the year, with a price‑to‑earnings ratio of 11.596 and a market capitalization of €133,977,579,520. The firm has maintained a disciplined approach to capital allocation, scaling back its share‑buyback program for 2026 while increasing the dividend paid to shareholders.

Financial analysts have highlighted the company’s solid results, noting that the model retains value even with reduced distributions. Morningstar has assigned a fair‑value estimate of €63 and a three‑star rating to the stock.

3. Strategic Projects and Partnerships

  • NordSee 1 Survey – TotalEnergies commenced surveys for the 2 GW NordSee 1 project, underscoring its commitment to offshore development.
  • Data‑Center Energy Agreement – The company entered into an agreement with Google to supply energy for data centers, reflecting its diversification into renewable‑energy‑driven infrastructure.
  • Vivo Energy Acquisition in Jordan – The Ministry of Industry, Trade and Supply approved the acquisition of TotalEnergies Marketing Jordan by Vivo Energy, consolidating the company’s presence in the Middle East.

4. Market Outlook

Despite a challenging environment marked by falling oil prices, TotalEnergies has delivered solid 2025 results. The firm’s financial discipline, coupled with a robust asset base across exploration, production, refining, and marketing, positions it well for continued resilience. Analyst forecasts have increased the target price to €70, reflecting confidence in the company’s strategic trajectory.

Key Figures (as of 10 Feb 2026)

  • Close Price: €64.22
  • 52‑Week High: €64.46
  • 52‑Week Low: €47.645
  • Price‑to‑Earnings Ratio: 11.596

TotalEnergies SE remains focused on adapting to regulatory changes, strengthening its capital structure, and expanding its portfolio in both traditional and renewable energy sectors.