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Offshore Wind · Oil And Gas · TotalEnergies · US Energy Policy
TotalEnergies, the French energy giant, has canceled two offshore wind projects in the United States, one off New York/New Jersey and another off North Carolina, opting instead to invest nearly $1 billion (about €860 million) in gas and oil production in a "win-win agreement" with the US administration.
This decision, announced on March 23, 2026, at the CERAWeek oil and gas industry event, aligns with President Donald Trump's energy policy, which prioritizes domestic oil and gas extraction over renewable energy deployment. TotalEnergies CEO Patrick Pouyanné described the move as a "win-win agreement" with the US administration, according to Agence France-Presse, while the Department of the Interior called it a "landmark agreement." The company will cease development of its offshore wind programs and reallocate capital to fossil fuel production.
