REG-TotalEnergies SE United States: TotalEnergies Signs Agreements with U.S. Department of Interior to End its U.S. Offshore Wind Projects

TotalEnergies SEAnnouncement

24/03/2026 09:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260324:nBw4QC3rha&default-theme=true


United States: TotalEnergies Signs Agreements with U.S. Department of Interior
to End its U.S. Offshore Wind Projects

 

Regulatory News:

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed settlement
agreements with the United States Department of the Interior (DOI) to
relinquish its Carolina Long Bay lease (Lease OCS-A 0545) and its New York
Bight lease (Lease OCS-A 0538), both awarded in 2022, along with its partners.
As a result, TotalEnergies will no longer develop offshore wind projects in
the United States.

Under the terms of the settlement, TotalEnergies will recover the lease fees
paid and will invest an equal amount in the development of U.S. Gas &
Power production and exports.

TotalEnergies’ studies on these leases have shown that offshore wind
developments in the United States, unlike those in Europe, are costly and
might have a negative impact on power affordability for U.S. consumers. Since
other technologies are available to meet the growing demand for electricity in
the United States in a more affordable way, TotalEnergies considers there is
no need to allocate capital to this technology in the U.S.

“TotalEnergies is pleased to sign these settlement agreements with the DOI
and to support the Administration’s Energy Policy. Considering that the
development of offshore wind projects is not in the country’s interest, we
have decided to renounce offshore wind development in the United States, in
exchange for the reimbursement of the lease fees,” said Patrick Pouyanné,
Chairman of the Board of Directors and Chief Executive Officer of
TotalEnergies. “Furthermore, these agreements, under which we will reinvest
the refunded lease fees to finance the construction of the 29 Mt Rio Grande
LNG plant and the development of our oil and gas activities, allows us to
support the development of U.S. gas production and export. These investments
will contribute to supplying Europe with much-needed LNG from the U.S. and
provide gas for U.S. data center development. We believe this is a more
efficient use of capital in the United States.”

TotalEnergies has also signed recently a Letter of Intent (LOI) with
Glenfarne, lead developer of the Alaska LNG
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftotalenergies.com%2Fnews%2Fpress-releases%2Funited-states-totalenergies-signs-agreement-export-2-mtpa-lng-20-years-alaska&esheet=54460698&newsitemid=20260323402685&lan=en-US&anchor=Alaska+LNG&index=1&md5=3b3d7d06a4f57fbd413680230ac4c6ba)
project, for the long-term offtake of 2 million tons per year (Mtpa) of
liquefied natural gas (LNG) over 20 years, subject to the project’s final
investment decision.

About TotalEnergies in the United States

TotalEnergies is deploying its integrated energy model across the United
States, where it has been active since 1957. Since 2022, TotalEnergies has
invested nearly $12 billion in the U.S. to accelerate development in oil, LNG,
and electricity. TotalEnergies is integrated throughout the LNG value chain,
with upstream gas production assets in Texas and offshore U.S. With 19 million
tons exported in 2025, TotalEnergies is the number 1 exporter of U.S. LNG. The
U.S. is also a key country for the deployment of TotalEnergies’ Integrated
Power strategy with 10 GW of installed power capacity.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen,
renewables and electricity. Our more than 100,000 employees are committed to
provide as many people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries, TotalEnergies
places sustainability at the heart of its strategy, its projects and its
operations.

@TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergies&esheet=54460698&newsitemid=20260323402685&lan=en-US&anchor=%40TotalEnergies&index=2&md5=8c73c5ae18060341571a449d24ad37f2)
TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ftotalenergies%2F&esheet=54460698&newsitemid=20260323402685&lan=en-US&anchor=TotalEnergies&index=3&md5=3511249d2da1519eb948681c11adbd73)
TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FTotalEnergiesFrance%2F&esheet=54460698&newsitemid=20260323402685&lan=en-US&anchor=TotalEnergies&index=4&md5=c48468bb2eb6966e288b37858deba0d3)
TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Ftotalenergies%2F&esheet=54460698&newsitemid=20260323402685&lan=en-US&anchor=TotalEnergies&index=5&md5=b5f77e0df5a9ac4ba857e945f7dc1b33)

Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergiesPR&esheet=54460698&newsitemid=20260323402685&lan=en-US&anchor=%40TotalEnergiesPR&index=6&md5=f1dba9349f086c551c9cfe3df99ba536)

Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



View source version on businesswire.com:
https://www.businesswire.com/news/home/20260323402685/en/
(https://www.businesswire.com/news/home/20260323402685/en/)

TotalEnergies


Copyright Business Wire 2026