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Plans to expand Cameron, Rio Grande projects over next

decade

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CEO says Trump will be pragmatic

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Company LNG portfolio can handle trade disruptions

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Urges Europe not to ban Russian LNG before 2027

By America Hernandez

LONDON, Feb 5 (Reuters) - TotalEnergies will

expand its investment in U.S. liquefied natural gas over the

next decade as the French company seeks to cement its position

as a major exporter of U.S. LNG, its CEO told Reuters on

Wednesday, dismissing fears by American market watchers that

more exports could boost U.S. gas prices.

In an interview with Reuters, TotalEnergies CEO Patrick

Pouyanne said he believed President Donald Trump's

administration will implement pragmatic policies that will

support U.S. energy production even as the world faces a new era

of tariffs and trade wars.

"What they want is very simple: jobs and billions of dollars

in the U.S," he said.

Since becoming CEO in 2014, Pouyanne has shifted Total's

focus away from Russia to low-cost oil and gas production in the

Middle East, Brazil, and the U.S., while also growing

electricity and renewables.

Total reported on Wednesday that it made $18.3 billion last

year, as a strong LNG trading division offset weak oil refining

profits.

While rivals including Chevron ( CVX ), Exxon Mobil ( XOM ) and BP invested

heavily over the past decade in shale oil and gas production,

the French firm has largely opted to invest in LNG projects that

have given it access to more than 10 million metric tons of U.S.

LNG annually to supply global customers.

"We have enough to grow the U.S. position for the next

decade, and I'm sure we'll do it," he said.

Pouyanne, 61, said TotalEnergies could invest in expansion

projects at its Cameron and Rio Grande LNG facilities on the

Gulf of Mexico.

"We can extend Cameron LNG," he said, adding a fourth train,

or production facility. "We can extend Rio Grande," he said, to

include a fifth, sixth or seventh train.

The U.S. is expected to nearly double its LNG export

capacity by the end of the decade. Some economists have warned

this could constrain domestic supplies and lead to higher energy

bills for Americans, which could then prompt Trump to reconsider

his stance on LNG exports.

Pouyanne said that the U.S. has abundant gas supplies due to

its vast shale reserves, but that the country needed to invest

in pipeline infrastructure to deliver the gas to demand centers

along the coasts.

"If you look at the history of the evolution of the U.S. gas

price, the spikes are more linked to the lack of infrastructure

than the lack of resources," he said.

EUROPEAN SUPPLY WORRIES

Europe has become the main buyer of U.S. LNG since losing

access to Russian supplies following Moscow's invasion of

Ukraine in February 2022.

While Total has become a major supplier of that American

LNG, the company has also continued to supply Russian LNG to

Europe from that country's Yamal LNG export facility.

Pouyanne said Total's ability to source the superchilled gas

from all geographies will help it minimize the risk to profits

from tit-for-tat tariffs like those between China and the U.S.

"Fundamentally it's a political game, because China's

purchase of U.S. energy is quite limited - in fact, they

purchase from portfolio companies like us. What we will do is

take more LNG from Qatar or from Australia, and the US LNG we

will send to other customers," the CEO said.

Even so, Pouyanne cautioned Europe away from banning Russian

LNG before 2027, saying the market would not be able to reroute

18 million tons of Russian supply until new projects start up

worldwide.

He instead urged the European Union to negotiate with Trump

for guaranteed LNG, sign more long-term contracts and to

reconsider its carbon taxes, which have driven up the cost of

electricity.