France’s Total informed on Tuesday it has created a Gas, Renewables and Power unit as part of its new organization plan as the energy giant looks to prepare for the medium and long-term challenges.
According to a company statement, the new unit will lead Total’s expansion gas midstream and downstream, renewable energies and energy efficiency.
It will bring together the businesses of the current Gas and New Energies Divisions (excluding biotechnologies) and pair them with a new Innovation & Energy Efficiency Division.
The Energy Efficiency division will manage both the corporate venture fund Total Energy Ventures and the Awango access to energy business.
President of the new division will become a member of the executive committee, Total said.
Patrick Pouyanné, Chairman and CEO of Total said, “We intend to deploy a proactive strategy in gas markets to meet demand and identify new outlets for our production.”
He added that the growth of gas and renewables in power generation mix has urged the company to take a value chain approach to electricity that is seen as the energy of the 21st century.
The company said that no jobs will be cut due to the reorganization, adding that the new Gas, Renewables and Power as well as other corporate organization changes will be deployed on September 1 this year.
LNG World News Staff