TotalEnergies Looks To Boost Investments in U.S. LNG | OilPrice.com
document.write(write_html);
}
Breaking News:
TotalEnergies, the biggest exporter of U.S. LNG, plans to boost investments in American LNG supply and will consider expanding the export projects it is already invested in, the French supermajor’s CEO Patrick Pouyanne told Reuters in an interview.
TotalEnergies, which exports more than 10 million tons per year of LNG from the United States, is also the world’s second-largest LNG trader after Shell.
document.write(write_html);
}
The French company has a 16.6% stake in the Cameron LNG plant in Louisiana and has several long-term purchasing agreements with U.S. LNG exporters.
TotalEnergies has been heavily investing in LNG in various geographies in recent years and is now looking to further boost its U.S. position.
“We have enough to grow the U.S. position for the next decade, and I’m sure we’ll do it,” CEO Pouyanne told Reuters.
TotalEnergies could invest in a possible expansion of Cameron LNG by adding a fourth train, and expand Rio Grande LNG with more production facilities, the executive added.
Earlier this year, TotalEnergies announced a deal to buy a 45% stake in dry gas-producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas, growing its gas production business and boosting its LNG portfolio. TotalEnergies is further increasing the integration across its gas value chain in the United States, the French supermajor said in September 2024 announcing a second such transaction in the U.S. gas sector last year.
Pouyanne believes that U.S. President Donald Trump and his administration would take a pragmatic approach to U.S. energy.
President Trump has already signed an executive order to boost America’s oil and gas production and exports, including ending the Biden pause on new LNG permits and looking to accelerate energy infrastructure, including pipelines.
According to TotalEnergies’s Pouyanne, it’s the insufficient infrastructure, not the higher exports, that could raise domestic U.S. prices.
“If you look at the history of the evolution of the U.S. gas price, the spikes are more linked to the lack of infrastructure than the lack of resources,” the executive told Reuters.
By Charles Kennedy for Oilprice.com
More Top Reads From Oilprice.com
Join the discussion | Back to homepage
document.write(write_html);
}
FACEBOOK
Twitter
GOOGLE+
LINKEDIN
REDDIT
PRINT
document.write(write_html);
}
EXXON Mobil
-0.35
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
