Energy company TotalEnergies has decided to stop developing offshore wind projects in the United States after signing a settlement with the United States Department of the Interior (DOI). 

The company will give up two wind leases it secured in 2022. These are the Carolina Long Bay and New York Bight leases, which it held with its partners. Under the agreement, TotalEnergies will get back the money it paid for the leases. The company said it will invest the same amount into gas and power projects in the United States. 

TotalEnergies said its studies showed that offshore wind projects in the US are costly and could increase electricity prices for consumers. It added that other energy sources can meet demand at a lower cost. Chief executive Patrick Pouyanné said the company is satisfied with the agreement. 

“We have decided to step away from offshore wind development in the United States. The move supports the country’s current energy policy,” he said. 

The company will now focus on gas projects, including the planned Rio Grande liquefied natural gas (LNG) plant. It said the investment will help increase US gas production and exports. TotalEnergies also recently signed a deal with Glenfarne, the developer of the Alaska LNG project. The agreement could see the company buy two million tons of LNG each year for 20 years, if the project is approved. 

Global wind footprint 

TotalEnergies has offshore wind projects in several countries, including the United Kingdom, France, Germany, the Netherlands, South Korea and Taiwan. In the United States, it held two projects before deciding to exit the market. 

Namibia connection 

In Namibia, TotalEnergies is a key player in the oil and gas sector. The company is part of the consortium that made the major Venus oil discovery in the offshore Orange Basin in 2022, one of the biggest finds in recent years. The discovery has raised hopes that Namibia could become a new oil-producing country and boost its economy through exports, jobs and investment. 

TotalEnergies continues to work with partners and the Namibian government on appraisal and development plans for the project. 

Growing US investments 

The company has been operating in the United States since 1957. Since 2022, it has invested nearly U$12 billion in oil, gas and electricity projects in the country. 

In 2025, TotalEnergies exported 19 million tons of LNG from the US, making it the country’s largest exporter. It also has 10 gigawatts of installed power capacity. 

-pmukokobi@nepc.com.na