TotalEnergies Buys Shale Gas Assets in the USA
France’s TotalEnergies has agreed to buy from Lewis Energy Group a 20% stake in the Dorado leases operated by EOG Resources (80%) in the Eagle Ford shale gas play, increasing its natural gas production capacity in Texas and strengthening the integration of the business into the LNG value chain in USA.
According to TotalEnergies, the purchased asset will allow it to increase natural gas production in the United States by 50 million cubic feet per day (500 million cubic meters per year – IF) in 2024, with the potential to increase production by another 50 million cubic meters. feet per day by 2028. In 2023, TotalEnergies net natural gas production in the United States reached approximately 340 million cubic meters. feet per day (3.5 billion cubic meters per year – IF).
With production of more than 10 million tons of liquefied natural gas (LNG) in 2023, TotalEnergies has become the number one LNG exporter in the United States thanks to its 16.6% stake in the Cameron LNG plant in Louisiana and several long-term offtake agreements.
The company’s LNG export capacity will reach 15 million tons per year by 2030 with the launch of the first phase of the Rio Grande LNG project in Texas, which is currently under construction.
