TotalEnergies Exits U.S. Offshore Wind and Redirects Capital to LNG

TotalEnergies has formally withdrawn from the U.S. offshore wind sector, signing settlement agreements with the Department of the Interior (DOI) to relinquish two major leases awarded in 2022 -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 ...