US lawmakers Alexandria Ocasio-Cortez and Ed Markey are seeking legal and funding details on a planned $928 million payment to TotalEnergies tied to the cancellation of offshore wind projects off the US East Coast.
The Trump administration is shifting its offshore wind approach toward lease buyouts tied to oil and gas reinvestment, though the model may not fit renewable-focused developers.
The US decision to reimburse TotalEnergies for two cancelled offshore wind leases is sending disruption through offshore transport, installation vessel planning, fabrication schedules and global supply chains.
TotalEnergies will relinquish two U.S. offshore wind leases under agreements with the Department of the Interior and redirect an equal amount of refunded lease fees into U.S. Gas & Power development.
The US is preparing to reimburse TotalEnergies more than $928 million as it moves to cancel the Attentive Energy and Carolina Long Bay offshore wind leases.
Liberia has started offshore exploration work with TotalEnergies across four PSA blocks, while new seismic processing and storage plans support broader energy sector activity.
TotalEnergies booked a $700 million impairment in Q4 2025 mainly tied to offshore wind within its Integrated Power segment. Total impairments reached $900 million, while net renewable generation rose to 8.1 TWh and the portfolio increased to 19 GW.
TotalEnergies will merge its UK offshore assets with Neo Next Energy to form Neo Next+, expected to be the largest independent oil and gas producer in the UK with output above 250,000 boe/d in 2026.
TotalEnergies has launched EnergyJobs.sr in Paramaribo, creating a unified access point for Surinamese applicants seeking oil and gas roles. The platform lists 437 positions and will support future hiring for the GranMorgu development in Block 58.
