TotalEnergies Exits U.S. Offshore Wind and Redirects Capital to LNG [Yahoo! Finance]
TotalEnergies SE Ordinary Shares (TTE)
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Source: Yahoo! Finance
with the Department of the Interior (DOI) to relinquish two major leases awarded in 2022 - Carolina Long Bay and New York Bight. The move marks a significant strategic reversal for the French energy major in one of the world's most closely watched emerging offshore wind markets. Under the terms of the agreement , the company will recover its lease payments and reinvest an equivalent amount into U.S. gas and power projects, with a particular emphasis on liquefied natural gas (LNG) and upstream hydrocarbons. CEO Patrick Pouyanné framed the decision as both economic and policy-aligned, arguing that offshore wind development in the U.S. remains structurally expensive and risks driving up electricity costs for consumers. The capital reallocation underscores TotalEnergies' growing conviction in LNG as a cornerstone of its U.S. strategy. The company confirmed that funds will help support the development of the 29 million tonne per annum Rio Grande LNG project, as well as broader oil an
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TTE
Earnings
- 10/30/25 - Miss
TTE
Sec Filings
- 3/27/26 - Form IRANNOTICE
- 3/27/26 - Form 20-F
- 3/9/26 - Form SCHEDULE
- TTE's page on the SEC website