TotalEnergies exits US offshore wind for gas and LNG

PARIS, March 24, 2026 – TotalEnergies has signed settlement agreements with the US Department of the Interior to relinquish two leases and end its offshore wind projects in the US, the company announced on Monday.

The agreements cover the Carolina Long Bay and New York Bight leases, both of which were awarded in 2022. Under the settlement, the company will recover the lease fees paid and reinvest an equal amount in US gas and power production and exports.

TotalEnergies won the auction for the New York Bight lease with a USD 795-million bid submitted together with German energy company EnBW. It covers 341 square kilometres offshore the states of New York and New Jersey, an area capable of accommodating at least 3 GW in generation capacity.

The Carolina Long Bay lease covers 222 square kilometres offshore North Carolina and was expected to add more than 1 GW in generation capacity. TotalEnergies won the auction for the area with a bid of USD 160 million.

“TotalEnergies is pleased to sign these settlement agreements with the DOI and to support the administration’s energy policy. These agreements, under which we will reinvest the refunded lease fees to finance the construction of the Rio Grande LNG plant and the development of our oil and gas activities, allow us to support the development of US gas production and export,” said Patrick Pouyanné, chairman of the board of directors and CEO of TotalEnergies.

In the US, TotalEnergies operates an integrated energy portfolio that spans gas and LNG production, storage and trading, as well as power generation. The company says that it has invested nearly USD 12 billion in the country since 2022 and is the top exporter of US LNG, reaching 19 million tonnes in 2025.

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