PARIS, Sept 27 (Reuters) - France's TotalEnergies is expanding its natural gas operations in the United States by acquiring a 45% stake in dry gas producing assets in the Eagle Ford basin, Texas, through a deal with Lewis Energy Group.
This strategic acquisition is significant as TotalEnergies is one of the leading exporters of U.S.-made Liquefied Natural Gas (LNG), which is in high demand as countries in Europe and beyond seek alternatives to coal and Russian gas imports.
Nicolas Terraz, President of Exploration and Production at TotalEnergies, stated, "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." This marks the second acquisition of non-operated shale gas assets in Southwest Texas by TotalEnergies this year.
The newly acquired assets have the potential to achieve a gross production of around 400 million cubic feet per day (Mcf/d) by 2028. Furthermore, TotalEnergies' overall U.S. LNG export capacity is projected to reach 15 million tons per year (Mt/y) by 2030.