United States Government to Pay $928 Million Reimbursement to France $198 Billion Energy Giant TotalEnergies to Cancel United States Offshore Wind Projects Which Will Redirect Investments into United States Oil & Natural Gas and LNG Production
30th March 2026 | Hong Kong
United States government has announced to pay dollar-for-dollar $928 million reimbursement to France energy giant TotalEnergies ($198 billion market value) to cancel United States offshore wind projects, which will redirect investments into United States oil & natural gas and LNG production. Announcement (23/3/26): “oday, the Department of the Interior announced a landmark agreement with TotalEnergies for the company to redirect capital from expensive, unreliable offshore wind leases toward affordable, reliable natural gas projects that will provide secure energy for hardworking Americans. TotalEnergies has committed to invest approximately $1 billion—the value of its renounced offshore wind leases—in oil and natural gas and LNG production in the United States. Following their new investment, the United States will reimburse the company dollar-for-dollar, up to the amount they paid in lease purchases for offshore wind. Under this innovative agreement driven by President Donald J. Trump’s Energy Dominance Agenda, the American people will no longer pay for ideological subsidies that benefited only the unreliable and costly offshore wind industry. Additionally, in light of the national security concerns, TotalEnergies has pledged not to develop any new offshore wind projects in the United States. For its part, TotalEnergies will invest $928MM, on the following projects in 2026: 1) The development of Train 1 to 4 of Rio Grande LNG plant in Texas; 2) The development of upstream conventional oil in Gulf of America and of shale gas production. … … Following TotalEnergies’ $928 million in investments in affordable, reliable and secure U.S. energy projects, the United States will terminate the following leases and reimburse the company: 1) Lease No. OCS-A 0535. The lease is located in Carolina Long Bay area. This lease was fully executed by TotalEnergies Renewables USA, LLC on June 1, 2022, after payment of $133,333,333. 2) Lease No. OCS-A 0538. The lease is located in the New York Bight area. The lease was fully executed by Attentive Energy, LLC on May 1, 2022, after payment of $795,000,000 … … These reinvestments by TotalEnergies will directly advance the Trump administration’s ongoing efforts to lower costs for American families, increase baseload and grid reliability and help maintain global leadership in artificial intelligence.”
“ United States Government to Pay $928 Million Reimbursement to France $198 Billion Energy Giant TotalEnergies to Cancel United States Offshore Wind Projects Which Will Redirect Investments into United States Oil & Natural Gas and LNG Production “
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United States Government to Pay $928 Million Reimbursement to France $198 Billion Energy Giant TotalEnergies to Cancel United States Offshore Wind Projects Which Will Redirect Investments into United States Oil & Natural Gas and LNG Production
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