The Wind-to-Gas Pivot 2026: TotalEnergies Just Abandoned US Offshore Wind Forever and What It Signals for Energy Construction

TotalEnergies accepted a $928 million federal buyout to abandon two offshore wind leases and pledged to never return to US offshore wind. The money is going to Rio Grande LNG and Gulf oil. This is the first completed wind-to-fossil buyout and it could be a template for Orsted, Equinor, and BP. Here is what it means for contractors in both sectors.