TotalEnergies Boosts Spending Plans, Cuts Russian LNG Investments

SUGAR LAND--March 30, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--TotalEnergies SE (NYSE:TTE) (Courbevoie, France) isn't shy about taking advantage of the high-price, high-demand environment for oil and gas, with the multinational major raising its projected capital spending (capex) for 2022-25 by about US$1 billion, to between US$13 billion and US$16 billion. While about half of this amount will go toward maintaining TotalEnergies' oil and gas activities, the other half will be divided among its renewables, biofuels and natural gas businesses, the last of which will be heavily weighted toward liquefied natural gas (LNG). Industrial Info is tracking about US$43.5 billion worth of active projects from TotalEnergies worldwide, including about US$4 billion in the U.S. Within this article: Details on some of TotalEnergies' highest-valued projects, including renewable and gas-generated projects in the U.S., Russia and Angola