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TotalEnergies said the acquisition of these low cost and long plateau assets further strengthens its integration across the gas value chain in the US.
This is the company’s second acquisition of non-operated shale gas assets in 2024, following the purchase of non-operated interest in the Dorado asset, located in the Eagle Ford basin, from Lewis Energy announced in April 2024.
Located in Southwest Texas, the acquired assets in the Eagle Ford basin have the potential to be developed to reach a sustainable gross production of around 400 Mcf/d by 2028, according to TotalEnergies.
TotalEnergies operates a technical production of around 500 Mcf/d in the Barnett.
“This acquisition further strengthens our upstream gas position in the United States and contributes to our integrated LNG position with a low cost upstream gas supply,” said Nicolas Terraz, president, exploration and production at TotalEnergies.
With over 10 million tons (Mt) exported in 2023, TotalEnergies claims it is the largest exporter of US LNG, thanks to its 16.6 percent stake in the Cameron LNG plant in Louisiana and several long-term purchasing agreements.
Sempra Infrastructure’s Cameron LNG, which shipped its 700th LNG cargo last year, operates the three-train 12 mtpa liquefaction facility.
Cameron LNG partners are also planning an expansion project that includes building the fourth train with a capacity of about 6 mtpa.
In March last year, Sempra Infrastructure and its partners TotalEnergies, Mitsui & Co, and Japan LNG Investment, a company held by Mitsubishi Corp and NYK, secured approval from the US FERC for the revised expansion plans for the Cameron LNG export plant.
Besides this project, TotalEnergies is a shareholder in NextDecade’s Rio Grande LNG project in Texas.
TotalEnergies plans to increase its capacity to 15 Mt/y by 2030 after the start-up of the Rio Grande LNG plant.
In July 2023, NextDecade took the final investment decision on the first three Rio Grande trains and completed $18.4 billion project financing.
FERC recently said it will prepare a supplemental environmental impact statement for the Rio Grande LNG project following a US court ruling.
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The post TotalEnergies boosts US LNG position with Eagle Ford deal appeared first on Energy News Beat.
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