Why TotalEnergies Shares Are Surging Today

TotalEnergies SE TTE shares are trading higher on Friday. The company secured the top spot in Bulgargaz EAD's tender for LNG supply at the Alexandroupolis terminal in Greece for November and December 2024, offering the most competitive terms.

The natural gas distribution company Bulgargaz stated that thirteen international companies showed interest, with six submitting binding offers.

Notably, Bulgargaz had earlier announced tenders for five LNG cargoes (5,000,000 MWh), including one for January-February 2025.

The first tender, covering October, closed in September, and 1,000,000 MWh of LNG from Norway has already been delivered. The company will select the supplier for the January-February tender by mid-November.

This week, TotalEnergies inked mid-term LNG supply deal with Santos for 20 cargoes annually, starting Q4 2025.

Yesterday, the company stated that it expects Oil & Gas production growth of about 3% annually through 2030, driven by LNG, with six major projects launching in 2024 across Brazil, Suriname, Angola, Oman, and Nigeria.

Investors can gain exposure to the stock via Advisor Managed Portfolios Miller Value Partners Appreciation ETF MVPA and Octane All-Cap Value Energy ETF OCTA.

Price Action: TTE shares are up 1.47% at $68.88 at the last check Friday.

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