Risky_Venture_Report_BFF

The report argues that the TotalEnergies-EPH joint venture (TTEP) locks Europe into fossil gas dependency, increases energy bill volatility through LNG imports, and relies on public subsidies that should be redirected toward clean energy. It highlights that the venture's 12.5 GW gas capacity will produce emissions comparable to entire countries like Ireland or Denmark over five years, while challenging the companies' claims that such assets are necessary for grid flexibility.

• The joint venture between TotalEnergies and EPH, finalized in April 2026, will be one of Europe's largest gas power producers, operating a gas fleet with 12.5 GW of capacity, which is equivalent to the combined gas fleet capacity of Belgium, Denmark, Portugal, and Sweden.
• The venture relies on importing 2 million tonnes of foreign LNG per annum, which is estimated to cost Europe between €6.675 billion and €7.555 billion over five years, primarily benefiting the fossil fuel industries of the US, Russia, and Qatar.
• The joint venture's gas fleet is projected to produce climate emissions over the next five years ranging from 38 to 61 Mt CO2e, a volume comparable to the annual greenhouse gas emissions of Denmark or Ireland.
• The venture is heavily dependent on public subsidies; between 2015 and 2024, over €4.08 billion was secured by TotalEnergies and EPH for the plants included in the joint venture, with at least 53% of the gas plants having secured capacity market contracts.
• The report disputes the 'flexgen' (flexible generation) narrative used by the companies, noting that over 87.5% of the 32 gas units are combined cycle gas turbines (CCGT), which are better suited for baseload generation than short-term flexibility.

APA

Alarcon, B. (2026). Risky_Venture_Report_BFF. Reclaim Finance. https://reclaimfinance.org/site/wp-content/uploads/2026/05/Risky_Venture_Report_BFF.pdf

Chicago

Alarcon, Brigitte. Risky_Venture_Report_BFF. Reclaim Finance, 2026. https://reclaimfinance.org/site/wp-content/uploads/2026/05/Risky_Venture_Report_BFF.pdf.

Wikipedia

{{cite report |last1=Alarcon |first1=Brigitte |title=Risky_Venture_Report_BFF |publisher=Reclaim Finance |date=May 2026 |url=https://reclaimfinance.org/site/wp-content/uploads/2026/05/Risky_Venture_Report_BFF.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{alarcon2026riskyventurereportbff, author = {Alarcon, Brigitte}, title = {{Risky\_Venture\_Report\_BFF}}, institution = {Reclaim Finance}, year = {2026}, month = may, url = {https://reclaimfinance.org/site/wp-content/uploads/2026/05/Risky_Venture_Report_BFF.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }