TotalEnergies will demobilize its floating LNG storage and regasification unit (FSRU) from the port of Le Havre in northwest France. The decision follows a Rouen Administrative Court ruling on October 16 2025 that the terminal was no longer required. The FSRU, named "Cape Ann," was commissioned in late 2023, with its first injection of gas into the grid on October 26 2023, and has been in service since September 18 2023. It had been used sparingly in 2024‑25 as gas supply conditions stabilized.
The court ruling and the reduced need for emergency capacity—thanks to a rebound in European LNG imports and a more stable gas market—made the FSRU redundant. The unit had served as a safety net during the 2022‑23 crisis, but its utilization has been minimal in recent months. Demobilizing the floating unit frees capital and operational resources that can be redirected to other projects.
TotalEnergies maintains its overall LNG supply capacity through other regasification terminals across Europe, including a 12 Mt y capacity at Rotterdam and an 8 Mt y capacity at Zeebrugge. The FSRU will be relocated to a new site in the Mediterranean, where it will support future projects, ensuring that the company’s LNG footprint remains robust while eliminating the temporary asset.
The move aligns with TotalEnergies’ broader strategy to prioritize permanent LNG infrastructure and invest in integrated power and renewable projects. The company aims for 100 GW of gross renewable capacity by 2030 and over 100 TWh of net electricity production. By divesting from a less utilized floating unit, TotalEnergies can focus on higher‑margin, long‑term assets that support its transition to a more diversified energy portfolio.
TotalEnergies faced a greenwashing lawsuit in November 2025, when a French court found the company had misled consumers about its carbon‑neutral claims. The demobilization may be part of a broader effort to improve ESG credibility and align operations with sustainability goals.
Analysts have noted the decision as a prudent step to streamline the LNG portfolio and free up capital for renewables. While some have expressed concern about the potential loss of flexibility, the overall assessment is that the company’s long‑term strategy remains sound.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.