TotalEnergies continues its growth strategy in the liquefied natural gas sector by acquiring a 45% interest in Lewis Energy Group’s assets located in the Eagle Ford Basin, Texas. This acquisition is part of a series of recent moves aimed at strengthening its position in the American market, already supported by its presence in the Cameron LNG liquefaction plant in Louisiana. By targeting the Eagle Ford basin, the group gains access to dry gas production already in operation, making it possible to optimize its LNG export capacities.
The group also increased its participation in the Dorado exploitation permits, also operated by EOG Resources, in this same region. These two acquisitions allow TotalEnergies to capitalize on a consolidated portfolio of gas reserves, offering increased flexibility for its operations. This is part of a broader strategy aimed at diversifying natural gas supplies to secure its exports in the face of current geopolitical challenges.
Strengthening LNG export capacities
With more than 10 million tonnes (Mt) of LNG exported in 2023, TotalEnergies is already a leading player in the American gas market. The company relies on strategic partnerships and long-term contracts to develop its export capabilities. The stake in Cameron LNG, combined with new acquisitions in Texas, allows TotalEnergies to target an annual export capacity of 15 Mt by 2030.
This capacity increase is crucial to meeting growing global demand from Europe and Asia, which are seeking to diversify their sources of supply. The Eagle Ford Basin, which benefits from proximity to transportation and liquefaction infrastructure, represents a logistical advantage for quickly transporting gas to export ports.
Procurement strategy in times of energy uncertainty
The acquisition of new assets in the Eagle Ford Basin comes as natural gas flows to Europe are reorganizing following the reduction in deliveries from Russia. American LNG capacities play an essential role in compensating for this loss, and TotalEnergies is positioning its assets in strategic regions to benefit from this dynamic.
Geopolitical tensions have also led to rising energy prices, making expansion into LNG particularly profitable in the short to medium term. By ensuring reliable supply and increasing its exportable volumes, TotalEnergies is positioning itself as a key supplier for European markets seeking energy stability.
Growth prospects and long-term objectives
TotalEnergies plans to continue investing in the development of new liquefaction and transportation infrastructure to support its growth in LNG. The group has already announced several projects in the United States, aimed at diversifying its sources of supply to meet growing global demand.
The objective of reaching 15 Mt/year of export capacity by 2030 is accompanied by a desire to develop complementary infrastructure to secure supplies. Emphasis is also placed on optimizing production costs and managing risks linked to fluctuations in energy prices. By diversifying its partnerships and consolidating its presence in the United States, TotalEnergies intends to establish itself as a key player in the LNG field.
