US and TotalEnergies Agree to Terminate $1 Billion Offshore Wind Projects, Redirect Funds to Fossil Fuels
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lode
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Summary
The United States and French energy company TotalEnergies have reached an agreement worth nearly $1 billion to terminate TotalEnergies' offshore wind farm projects in the US and redirect those funds toward fossil fuel production. The deal was announced by US Interior Secretary Doug Burgum at the CERAWeek conference in Houston, where he appeared alongside TotalEnergies CEO Patrick Pouyanné before both signed the agreement.
Key quotes
· 3 pulledThe United States and TotalEnergies on Monday, March 23 signed an agreement to end the French company's offshore US wind farm projects and redirect those funds towards fossil fuel production
US interior secretary saying the deal was worth 'nearly $1 billion'
US Interior Secretary Doug Burgum made the announcement at the annual CERAWeek conference in Houston, at an event where he appeared alongside TotalEnergies CEO Patrick Pouyanné, after which both men signed the agreement
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