TotalEnergies buys more gas assets in Texas to boost value chain


WHY IT’S IMPORTANT

TotalEnergies’ is one of the top exporters of U.S.-made Liquified Natural Gas (LNG), facing particularly high demand as many countries in Europe and elsewhere shift away from coal and cheap Russian gas imports.

KEY QUOTE(S) “This acquisition further strengthens our upstream gas position in the United States and contributes to our integrated LNG position with a low cost upstream gas supply,” said Nicolas Terraz, President, Exploration and Production at TotalEnergies.

CONTEXT

The deal is the second acquisition of non-operated shale gas assets in Southwest Texas this year.

BY THE NUMBERS

The added assets have the potential to reach a gross production of around 400 million cubic feet per day (Mcf/d) by 2028. TotalEnergies’ overall U.S. LNG export capacity is expected to reach 15 million tons per year (Mt/y) by 2030.

Reporting by Tassilo Hummel Editing by Tomasz Janowski – Reuters



This article was originally posted at sweetcrudereports.com

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