February 06, 2025 [Reuters]- TotalEnergies will increase its investment in liquefied natural gas (LNG) in the United States over the next decade as the group seeks to strengthen its position as a major exporter of U.S. LNG, its CEO told Reuters.

Patrick Pouyanne said he believed that the administration of the new American president, Donald Trump, would implement pragmatic policies that would support American energy production, despite the looming trade war.

“What they want is very simple: jobs and billions of dollars in the United States,” he said.

While its rivals have invested in shale gas and oil production over the past decade, TotalEnergies has decided to invest in LNG projects that have enabled it to become the leading American exporter of liquefied natural gas (LNG).

Patrick Pouyanne said the oil and gas group, which is also heavily involved in renewable energy, could invest in developing its Cameron and Rio Grande LNG production sites in the Gulf of Mexico.

Although the United States has large reserves of shale gas, the country needs to invest in pipelines to transport the gas to areas where demand is high, Pouyanne said.

“If you look at the history of gas prices in the United States, the spikes are more related to lack of infrastructure than lack of resources.”

Patrick Pouyanne also considered it desirable for the European Union to negotiate with the new American administration “a form of free trade guarantee” in the field of LNG to ensure that it benefits from deliveries from the United States.

TotalEnergies published on Wednesday its results for the fourth quarter of 2024, marked by a drop in oil prices and refining margins, but higher than expected.

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