Total CEO: Alternative energies necessary

Company intent on expanding alternative energy portfolio, says the CEO

Total wants to develop its nuclear portfolio.
Total wants to develop its nuclear portfolio.

The head of the French energy giant Total has said that fossil fuels will not be sufficient to meet global energy demand, and that the company is seeking to develop alternative energies as a result.

“We are also aware that fossil fuels will not be enough to meet future energy needs. We believe it is paramount to also develop complementary energies,” Christophe de Margerie, Total’s chief executive officer, told the Korean JoongAng Daily newspaper.

One of these energy sources is nuclear power, and the company is keen to built up its portfolio in this sector. Total was part of the French consortium that bid for the nuclear project in the UAE and ended up losing out to a consortium around the Korean power company Kepco. The four 1,000MW nuclear reactors, located in Abu Dhabi, will be completed by 2020 at a cost of US$20 billion.

“Total, as an energy company, is keen to integrate nuclear in its future energy portfolio. As such, Total observes with great interest Korea’s entry into the international nuclear market,” de Margerie said. “Korea has developed a real know-how in nuclear reactor technology, as well as in operation and management of nuclear power plants.”

The CEO also believes that solar power is a vital addition to power generation. Total, in conjunction with Spanish renewables firm Abengoa, in June won a tender to construct a 100MW concentrated solar plant in Abu Dhabi.

“Overall, the company intends to diversify its offering to countries that need to diversify their energy sources, as we do in Abu Dhabi, where - in association with the Spanish Group Abengoa - we are building and will operate Shams-1,” de Margerie said.

In developing solar technology, the company will build on its experience with chemical components, he added.


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