TotalEnergies: the USA gas rush

TotalEnergies is significantly expanding its oil and gas production and LNG export capacity in the United States, with production in the US expected to grow by 8.3% annually until 2030. This strategy includes developing fields in the Barnett Shale, Eagle Ford, and the Gulf of Mexico, as well as expanding the Cameron LNG terminal and building Rio Grande LNG. Reclaim Finance highlights that this expansion is supported by several European and US banks and investors, and warns that the Rio Grande LNG project alone could emit 191 million tons of CO2e annually while violating the rights of the Carrizo/Comecrudo tribe.

• TotalEnergies is implementing a growth strategy centered on the United States, aiming for a global oil and gas production increase of 3% per year until 2030, with US production specifically projected to rise by 8.3% annually to exceed 180,000 barrels of oil equivalent per day.
• The company's US expansion focuses on the Barnett Shale and Eagle Ford shale basins, the Ballymore field in the Gulf of Mexico, and the development of LNG infrastructure, including the expansion of the Cameron LNG terminal and the construction of Rio Grande LNG.
• TotalEnergies is the largest long-term buyer of US LNG with 19.61 Mtpa contracted via 15-to-20-year agreements, six of which were signed between 2019 and 2023.
• The Rio Grande LNG project is estimated to produce 191 million tons of CO2e emissions annually and is opposed by the Carrizo/Comecrudo tribe due to its location on sacred land, violating the Free, Prior, and Informed Consent (FPIC) principle.
• Financial institutions continue to enable this expansion; TotalEnergies raised €3.15 billion through bonds in March 2025 with support from banks including Bank of America, BPCE/Natixis, HSBC, and Société Générale, while investors like Amundi and Crédit Agricole Assurances continue to provide backing.

APA

Manickawasagar, A. (2025). TotalEnergies: the USA gas rush. Reclaim Finance. https://reclaimfinance.org/site/en/2025/03/11/totalenergies-the-usa-gas-rush/

Chicago

Manickawasagar, Aatiraï. TotalEnergies: the USA gas rush. Reclaim Finance, 2025. https://reclaimfinance.org/site/en/2025/03/11/totalenergies-the-usa-gas-rush/.

Wikipedia

{{cite press release |last1=Manickawasagar |first1=Aatiraï |title=TotalEnergies: the USA gas rush |publisher=Reclaim Finance |date=11 March 2025 |url=https://reclaimfinance.org/site/en/2025/03/11/totalenergies-the-usa-gas-rush/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{manickawasagar2025totalenergies, author = {Manickawasagar, Aatiraï}, title = {{TotalEnergies: the USA gas rush}}, publisher = {Reclaim Finance}, year = {2025}, month = mar, url = {https://reclaimfinance.org/site/en/2025/03/11/totalenergies-the-usa-gas-rush/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }