TotalEnergies launches the Fenix Project

TotalEnergies launches the Fenix Offshore Gas Project in Argentina. The company is strengthening its position in the country.

Partagez:

TotalEnergies is strengthening its presence in Argentina through its subsidiary Total Austral. In fact, the multinational has just announced the launch of the Fenix offshore gas project. Located 60 km off the coast of Tierra del Fuego, it is part of a long-term presence in this region.

Enhance the hydrocarbon portfolio

TotalEnergies has approved the final investment decision for the Fenix gas development. The company aims to produce 10 million cubic meters per day of natural gas by 2025. To do this, it plans to create a platform with three horizontal wells capable of drilling to a depth of 70 meters.

The gas will then be transported through a 35 km pipeline to the Vega Pleyade platform, operated by TotalEnergies. Then, processed on land in the plants of Rio Cullen and Cañadon Alfa, also operated by the company.

This investment represents approximately $706 million. This substantial sum confirms TotalEnergies’ desire to strengthen its presence in Argentina and its hydrocarbon portfolio.

David Mendelson, Senior Vice President, Americas, TotalEnergies Exploration & Production, emphasizes this point:

“This latest development demonstrates TotalEnergies’ ability to add value to its hydrocarbon portfolio.”

A project that will benefit from substantial financial advantages at a time when the company has reaped record profits. In fact, since Fenix was a new gas project, the authorities granted Fenix the benefits of the special tax regime provided for under Law 19640.

Total Austral, a long-standing presence in Argentina

Through its subsidiary Total Austral, TotalEnergies has been present in Argentina since 1978. The company ranks as the country’s leading international gas producer, with about 25% of production.

With the aim of continuing its presence in Argentina, the subsidiary is expanding. Since 2018, TotalEnergies has been developing the unconventional AguadaPichana Este field, which is located in the VacaMuerta wet gas window.

In addition, the company also has Marketing & Services and Renewables activities in Argentina. Indeed, through its subsidiary Total Erenaffiliate, it has an operating capacity of 180 MW from a solar power plant and two wind farms.

The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
Israel has partially resumed its natural gas exports to Egypt and Jordan following a week-long halt due to the closure of two major offshore gas fields, Leviathan and Karish.
Nepal reveals a significant potential reserve of methane in the west of the country, following exploratory drilling conducted with technical support from China, opening new economic prospects.
Petronas formalizes a memorandum with JOGMEC to secure Japanese LNG deliveries, including a first cargo from LNG Canada scheduled for July at Toho Gas.
Belgrade is currently finalising a new gas contract with Russia, promising Europe's lowest tariff, according to Srbijagas General Director Dusan Bajatovic, despite Europe's aim to eliminate Russian imports by 2027.
TotalEnergies and QatarEnergy have won the Ahara exploration licence, marking a new stage in their partnership with SONATRACH on a vast area located between Berkine and Illizi.
After four years of interruption due to regional insecurity, TotalEnergies announces the upcoming resumption of its liquefied natural gas project in Mozambique, representing a $20bn investment.
The French group has acquired from PETRONAS stakes in several licences covering more than 100,000 km² off Malaysia and Indonesia, consolidating its Asian presence and its exposure to the liquefied natural gas market.
In response to rising summer electricity consumption, Egypt signs import agreements covering 290 shipments of liquefied natural gas, involving major international firms, with financial terms adjusted to the country’s economic constraints.
Egyptian fertilizer producers suspended their activities due to reduced imports of Israeli gas, following recent production halts at Israel's Leviathan and Karish gas fields after Israeli strikes in Iran.
A report identifies 130 gas power plant projects in Texas that could raise emissions to 115 million tonnes per year, despite analysts forecasting limited short-term realisation.
Japanese giant JERA will significantly increase its reliance on US liquefied natural gas through major new contracts, reaching 30% of its supplies within roughly ten years.
Sustained growth in U.S. liquefied natural gas exports is leading to significant price increases projected for 2025 and 2026, as supply struggles to keep pace with steadily rising demand, according to recent forecasts.
Shell is expanding its global Liquefied Natural Gas (LNG) capacities, primarily targeting markets in Asia and North America, to meet rising demand anticipated by the end of the decade.