TotalEnergies Wrestles with Weaker Prices Amid Higher Demand

Researched by Industrial Info Resources (Sugar Land, Texas)--TotalEnergies SE (Courbevoie, France) is facing a dilemma shared by many of its peers in global energy: Its hydrocarbons production is on an upswing, but it continues to see its earnings weaken from low oil and gas prices. The company also is facing a far less receptive audience for its renewable-energy projects in the U.S., although it plans to expand its investment in U.S. liquefied natural gas (LNG) over the next decade. Industrial Info is tracking more than $12.75 billion worth of active and proposed projects across the U.S. and Canada from TotalEnergies, more than 75% of which is attributed to power-generation projects.

Click on the image at right for a graph detailing the top 10 counties for TotalEnergies's active and proposed projects, by total investment.

TotalEnergies said it expects global hydrocarbon production for the second quarter of 2025 to grow about 2.5% from the 2.44 million barrels of oil equivalent per day (BOE/d), when compared with the same period last year. But the average price for its hydrocarbon products dropped from $72.20 per barrel in the first quarter to $65.60; a similar problem hit its integrated LNG business, where average prices dropped from $10 to $9.10 per million British thermal units.

BP plc (London, England) and Shell plc (London) also have warned their investors about lagging commodity prices. For more information, see July 9, 2025, article - Shell Turns Downbeat on Gas.

Industrial Info is tracking more than $30 billion worth of active and proposed projects from TotalEnergies in the Oil & Gas and Petroleum Refining industries worldwide, about 70% of which is split between Africa and the Oceanic nations, which include Australia and Papua New Guinea. Among these projects is the proposed Papua LNG Production Complex in Port Moresby, Papua New Guinea, which is designed to produce 5.6 million metric tons per annum of LNG from four trains.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more about Papua LNG from a detailed project report, and can click here for a full list of reports for TotalEnergies' Oil & Gas and Petroleum Refining projects worldwide.

TotalEnergies' LNG business also heard some good news from Mozambique earlier this week, when the African nation's Ministry of Mineral Resources and Energy allowed the company to resume work on a sprawling, $20 billion LNG project. Patrick Pouyanne, the chief executive officer of TotalEnergies, previously had said he expects work to restart this summer. Subscribers can click here for a list of detailed reports for projects related to Mozambique LNG.

Pouyanne also said earlier this year that his company was supporting the expansion of the Cameron and Rio Grande LNG facilities on the Gulf of Mexico, in which it holds 16.6% and 16.7% ownership, respectively. TotalEnergies also signed a 20-year sales and purchase agreement with NextDecade (Houston, Texas), the majority owner of Rio Grande, to secure LNG from a fourth train at the complex for export to Europe. Subscribers can click here for a list of detailed reports for projects related to ongoing developments at the Cameron and Rio Grande LNG facilities.

Last month, TotalEnergies announced it was looking to sell a 50% interest in its U.S. renewable assets portfolio, which is part of a larger strategy to sell 50% stakes in renewable projects once they are built to boost returns on its green investments, according to World Oil.

Among its renewable projects under construction in the U.S. is the $218 million Springwater Solar Plant in West Jefferson, Ohio, which is expected to generate 155 MW from 386,400 photovoltaic (PV) panels provided by Trina Solar (Changzhou, China). TotalEnergies is supporting the project with a $97.5 million battery energy-storage system (BESS) unit, which will have a 75-MW capacity. Subscribers can learn more from detailed reports on the solar and BESS projects.

Subscribers can click here for a full list of detailed reports for active and proposed projects from TotalEnergies across the U.S. and Canada, and click here for a full list of reports for projects worldwide.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).