By Ndubuisi Micheal Obineme
…acquires 45% interest in gas-producing assets in the Eagle Ford Basin, USA.
…says natural gas among the pillars of the company’s energy transition strategy.
TotalEnergies is targeting 15 million tons (MT) of Liquefied Natural Gas (LNG) export annually by 2030, signs an agreement with Lewis Energy Group to acquire a 45% interest in dry gas-producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas, United States.
The Senior Advisor to the President and CEO of TotalEnergies, Pascal Laroche, made this known in a statement, obtained by The Energy Republic, stating that the company is aiming to export 15 million tons of LNG annually by the year 2030.
Laroche said, “TotalEnergies, a French company, is the 1st Exporter of U.S. Liquefied Natural Gas (LNG) shipping more than 10 million tons annually to the rest of the world.
“To be even more integrated within this U.S. gas value chain, we just acquired a 45% interest in gas-producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas.
“Gas is a key energy source for the energy transition especially to replace coal in electricity generation and it is one of the pillars of our transition strategy.
“TotalEnergies is positioned as the world’s 3rd largest LNG player, and the leading player in regasification in Europe.”
The acquisition of these low-cost and long plateau assets will further strengthen TotalEnergies’ integration across the gas value chain in the US.
According to the company, the acquired assets have the potential to be developed to reach a sustainable gross production of around 400 Mcf/d by 2028.
Speaking on this development, Nicolas Terraz, President, Exploration & Production at TotalEnergies said, “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.
“We are delighted to partner with Lewis Energy Group, a well-renowned and highly efficient gas operator with a historical footprint in South Texas.”
Overall, this deal is the second acquisition of TotalEnergy’s non-operated shale gas assets in 2024 after the purchase of non-operated interest in the Dorado asset, located in the Eagle Ford basin, which was purchased from Lewis Energy Group earlier this year.
Moreover, TotalEnergies operates a technical production of around 500 Mcf/d in the Barnett. The company also has a 16.6% stake in the Cameron LNG plant in Louisiana and several long-term purchasing agreements.
Following this project development, TotalEnergies U.S. LNG export capacity is expected to reach 15 million tons annually by 2030.