Story perspectives

TotalEnergies, EPH Finalize €5.1B Gas JV, Europe Faces €7B Cost

5/21/2026

Summary

Story summary

TotalEnergies and EP Group’s EPH finalized a 50 % stake joint venture on 29 April.
Deal gave TotalEnergies €5.1 billion in EPH shares and added 14 GW of assets, 12.5 GW gas-fired.
87 % of the gas units are combined-cycle turbines, with only Trapani (Sicily) and Kilroot (UK) operating as open-cycle.
BFF warns the venture could cost Europe €6.68-7.56 billion over five years and generate emissions comparable to Ireland’s or Denmark’s annual output, deepening fossil-gas reliance.

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Story summary

TotalEnergies and EP Group’s EPH finalized a 50 % stake joint venture on 29 April.
Deal gave TotalEnergies €5.1 billion in EPH shares and added 14 GW of assets, 12.5 GW gas-fired.
87 % of the gas units are combined-cycle turbines, with only Trapani (Sicily) and Kilroot (UK) operating as open-cycle.
BFF warns the venture could cost Europe €6.68-7.56 billion over five years and generate emissions comparable to Ireland’s or Denmark’s annual output, deepening fossil-gas reliance.