TotalEnergies SE (TTE) Announces Signing of MoU With the Egyptian Natural Gas Holding Company
Key takeaways
- Management stated that the MoU forms a technical cooperation framework, including preliminary exploration and subsurface evaluation activities.
- In a separate development, TD Cowen lifted the price target on TotalEnergies SE (NYSE:TTE) to $106 from $102 on May 1, maintaining a Buy rating on the shares.
- TotalEnergies SE (NYSE:TTE) operates as a global integrated energy company that produces natural gas and green gases, oil and biofuels, as well as renewables and electricity.
Total Energies SE (TTE) Announces Signing of Mo U With the Egyptian Natural Gas Holding Company Noor Ul Ain Rehman Tue, May 26, 2026 at 7:08 PM GMT+7 2 min read TTE Total Energies SE (NYSE:TTE) is one of the best commodity stocks to buy for the supercycle. Total Energies SE (NYSE:TTE) announced on May 13 the signing of a Memorandum of Understanding (Mo U) with the Egyptian Natural Gas Holding Company (EGAS) on exploration activities, covering a significant area located in the north-western offshore of Egypt. Management stated that the MoU forms a technical cooperation framework, including preliminary exploration and subsurface evaluation activities. Nicola Mavilla, Senior Vice President Exploration at TotalEnergies SE (NYSE:TTE), stated that the agreement will “support the assessment of Egypt’s deep offshore exploration potential”.
In a separate development, TD Cowen lifted the price target on TotalEnergies SE (NYSE:TTE) to $106 from $102 on May 1, maintaining a Buy rating on the shares. The firm stated that fiscal Q1 results benefited from the strong trading, while the company reiterated capex despite a fiscal Q1 miss. It added that TotalEnergies SE (NYSE:TTE) acknowledged the strong operating environment presents upside to previously guided buybacks and an opportunity to get leverage below target.
TotalEnergies SE (NYSE:TTE) operates as a global integrated energy company that produces natural gas and green gases, oil and biofuels, as well as renewables and electricity. It is headquartered in Courbevoie, France, and operates through the following business segments: Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services.