20 May 2026

RISKY VENTURE: How a new TotalEnergies & EPH joint venture is rigging the game against Europe’s energy transition

The recently announced TotalEnergies and EPH’s joint venture – named TTEP – will effectively lead to the emergence of a new fossil gas giant, deepening Europe’s dependence on costly imported fossil gas, increasing energy bills and slowing down Europe’s clean energy transition. These are among the key findings of Beyond Fossil Fuels’ report  RISKY VENTURE: How a new TotalEnergies & EPH joint venture is rigging the game against Europe’s energy transition.

TotalEnergies intends to use the joint venture to dispose of two million tonnes per annum of Liquefied Natural Gas (LNG), which is subject to well-known price volatility and environmental impacts. Based on 2025 generation figures, BFF estimates that in the coming five years the joint venture will produce climate emissions rivaling those Ireland or Denmark produce in a year.

The report debunks the so-called “flexibility” narrative pushed by both companies, and highlights the climate, geopolitical and financial risks associated with this endeavour.