US EditionUS, TotalEnergies to shift nearly $1 billion from wind to oil and gas
The Trump administration reimbursed TotalEnergies $928 million to cancel offshore wind leases and shift investments to U.S. oil, natural gas, and LNG projects, citing energy reliability.
- The United States and French energy major TotalEnergies reached a deal where TotalEnergies will redirect nearly $1 billion from offshore wind leases to U.S. oil and natural gas production.
- TotalEnergies pledged not to develop any new offshore wind projects in the United States and will invest $928 million in a liquefied natural gas plant in Texas and oil and gas production.
- After TotalEnergies makes those investments, the U.S. will terminate its offshore wind leases off the coasts of North Carolina and New York and reimburse the company.
38 Articles
38 Articles
On March 23, TotalEnergies concluded an agreement of $928 million with the Trump administration. The agreement provides for the abandonment of offshore wind projects, against the exploitation of gas and oil in the United States. - TotalEnergies and the Trump administration conclude an agreement of approximately $1 billion to stop offshore wind projects (International).
Trump administration to pay French company US$1B to walk away from U.S. offshore wind leases
The Trump administration will pay US$1 billion to a French company to walk away from two U.S. offshore wind leases as the administration ramps up its campaign against offshore wind and other renewable energy.
Washington Top News
French company stops US offshore wind projects in $1B deal with Trump administration
The Trump administration will pay $1 billion to a French company to walk away from two U.S. offshore wind leases as the administration ramps up its campaign against offshore wind and other renewable energy. TotalEnergies has agreed to what’s essentially a refund of its leases for projects off the coasts of North Carolina and New York, and will invest the money in fossil fuel projects instead, the Department of Interior announced Monday. The Trum…
Associated Press News
Trump administration to pay French company $1B to walk away from US offshore wind leases
The Department of Interior says a French energy company has agreed to give up two U.S. offshore wind leases and invest in fossil fuel projects instead.
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