CERAWEEK: US to refund $1 bil to TotalEnergies in deal to drop offshore wind lease

TotalEnergies will cancel its US-based offshore wind projects and invest approximately $1 billion in fossil fuel development, as part of a March 23 deal with the US Interior Department. After investing in the fossil fuel infrastructure, including oil, gas and LNG production, the French energy company will receive reimbursements of $1 billion from the US government, reflecting the total cost theTotalEnergies will cancel its US-based offshore wind projects and invest approximately $1 billion in fossil fuel development, as part of a March 23 deal with the US Interior Department. After investing in the fossil fuel infrastructure, including oil, gas and LNG production, the French energy company will receive reimbursements of $1 billion from the US government, reflecting the total cost theRead More