Oil, Gas, Electricity and Billions in Cash: TotalEnergies Lays Out Its 2030 Road Map

TotalEnergies SE (NYSE:TTE) stock rose nearly 2% in Monday premarket trading after the company reaffirmed its long-term growth and shareholder-return targets.Long-Term Outlook ReaffirmedTotalEnergies expects oil and gas production to grow by more than 3% annually on average between 2025 and 2030. Low-cost, low-emission projects already under development are expected to support that growth.The company also expects overall energy production to increase by about 4% annually through 2030.At the same time, TotalEnergies is targeting a 50% reduction in Scope 1 and Scope 2 oil and gas emissions from 2015 levels. It also aims to cut methane emissions by 80% from 2020 levels by 2030 or earlier.Electricity generation is expected to grow by more than 20% annually, reaching 100-120 TWh per year by 2030. Electricity would then account for about 20% of the company’s energy mix.TotalEnergies said its oil and gas portfolio across Namibia, Nigeria, Libya, Malaysia, Mozambique and Papua New Guinea supports production of about 3 million barrels of oil equivalent per day through 2035. The portfolio includes more than 12 years of proven reserves.From 2030 through 2035, the company targets annual oil and gas production growth of 2%-3%. Electricity generation is expected to increase by 10-12 TWh annually, lifting its share of the energy mix to 25% by 2035.TotalEnergies plans annual net investments of $14 billion-$17 billion from 2027 through 2032. See More: Top Value Stocks Dividend And Share BuybacksThe board approved a dividend policy targeting annual dividend growth of more than 5% from 2026 through 2030.TotalEnergies also plans to return at least 40% of cash flow to shareholders while reducing gearing below 10%.The company expects gearing to fall below 10% by the end of 2026. It plans $2.5 billion in share buybacks during the fourth quarter of 2026, followed by $2 billion-$2.5 billion in the first quarter of 2027.Free cash flow is expected to increase by about $10 billion between 2025 and 2030 under the same price assumptions. That would equal more than $4 per share.Azerbaijan Project Moves ForwardSeparately, TotalEnergies and its partners took the final investment decision for the full-field development of the Absheron gas and condensate field in the Caspian Sea, about 100 kilometers southeast of Baku.The field has about 140 billion cubic meters of recoverable gas reserves. Its first phase, launched in 2023, has production capacity of 1.5 billion cubic meters of gas per year and 12,000 barrels per day of condensate.The full-field project is expected to begin production in 2029. It would increase total production to 6 billion cubic meters of gas per year and 47,000 barrels per day of condensate.Analyst OutlookTotalEnergies carries a Buy consensus rating with an average price forecast of $97.67.JPMorgan downgraded the stock to Neutral on Sept. 23. Piper Sandler maintained a Neutral rating and raised its price forecast to $93 on Sept. 3. The firm previously had an $85 price forecast on July 23.The stock trades at a price-to-earnings ratio of about 11.4.TTE Price ActionTTE Stock Price Activity: TotalEnergies shares were up 1.61% at $92.40 during Monday premarket trading, according to Benzinga Pro data.Photo via Shutterstock Read Also: TotalEnergies Moves Ahead With Nigeria Gas Project, Targets 2028 Start