TotalEnergies SE (NYSE:TTE) Q3 2023 Earnings Call Transcript

But that’s our answer. There is no stranded asset in the portfolio of TotalEnergies.

Alessandro Pozzi: So you’re happy for such a long-term agreement on Qatar, the cost of [indiscernible] on some of the other projects you prefer maybe a shorter duration?

Patrick Pouyanne: No, no. But systematically, when we invest, we invest in oil projects or LNG projects in only in low cost, less than $20 per barrel CapEx or OpEx for oil and for LNG, they must be first or second quarter. So that’s the protection. And this is the situation otherwise, we don’t do it. We don’t do it. We just — we have a large portfolio of LNG projects, and we select them. If they are on the right side of the cost price because this uncertainty of the demand we admitted, it’s part of sort of the answer we give you is low cost.

Operator: There are no further questions registered. Back to you, gentlemen, for conclusion.

Patrick Pouyanne: Thank you very much for your attendance. We will give you a next meeting point review you will be on January — on February 7. We’ll make the annual presentation in London in presence because we would like to meet you again. COVID is behind us. So it will be probably 7th of February in the morning. Renaud will give you all the details. Thank you for your attendance. And as always, you are not surprised by TotalEnergies even, in fact, we are surprised always positively. So we’ll continue. Thank you.

Operator: Ladies and gentlemen, this concludes the conference call. Thank you all for your participation. You may now disconnect.