https://www.doi.gov/pressreleases/interior-and-totalenergies-agree-end-offshore-wind-projects-lowering-costs-american
Department reaches an agreement with TotalEnergies to renounce costly offshore wind leases and redirect company’s investment into U.S. LNG production
03/23/2026
Last edited 03/23/2026
WASHINGTON — Today, 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.
“This agreement is yet another win for President Trump’s commitment to affordable and reliable energy for all Americans,” said Secretary of the Interior Doug Burgum. “Offshore wind is one of the most expensive, unreliable, environmentally disruptive, and subsidy-dependent schemes ever forced on American ratepayers and taxpayers. We welcome TotalEnergies’ commitment to developing projects that produce dependable, affordable power to lower Americans' monthly bills while providing secure U.S. baseload power today—and in the future.”
“Today’s agreement prioritizes affordability for hardworking American consumers over the prior administration’s ideological, ineffective energy policies,” said Attorney General Pamela Bondi. “Americans will benefit from this significant investment in our energy industry, which will also enhance our national security and grid reliability.”
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