TotalEnergies Boosts U.S. LNG Portfolio With Rio Grande Train 4 Investment
TotalEnergies (NYSE: TTE) has secured a 10% direct stake in Rio Grande LNG’s Train 4 project in South Texas, joining partners NextDecade, Global Infrastructure Partners, GIC, and Mubadala in taking a Final Investment Decision (FID) on the 6 Mtpa expansion, set to boost the plant’s total capacity to 24 Mtpa by 2030. The French major also holds an indirect interest of nearly 7% through its 17.1% stake in NextDecade, bringing its total exposure to the new liquefaction train to about 17%. At the same time, TotalEnergies, NextDecade (40%), Global Infrastructure Partners (36.9%), Singapore sovereign fund GIC (7.9%), and Abu Dhabi’s Mubadala (5.2%) reached a Final Investment Decision on the fourth train. The $multi-billion expansion is expected to add 6 million tons per annum (Mtpa) of liquefaction capacity, taking Rio Grande LNG’s output to about 24 Mtpa by the end of the decade. Financing will be split roughly 40% equity and 60% debt. TotalEnergies will offtake 1.5 Mtpa from Train 4 under a 20-year contract, reinforcing its U.S. export position. Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies, highlighted that the additional volumes will increase the company’s U.S. LNG export capacity to over 16 Mtpa by 2030. “It gives TotalEnergies access to competitive LNG thanks to low production costs,” he said. The deal builds on a long-standing partnership. TotalEnergies already holds 16.7% of Phase 1 of Rio Grande LNG—three trains now under construction and expected online in 2027—and has contracted 5.4 Mtpa offtake from that phase. In addition, its equity stake in NextDecade links it directly to the project operator’s wider ambitions. NextDecade Chairman and CEO Matt Schatzman said TotalEnergies’ expanded role underscored the project’s competitiveness and strategic importance. “LNG exported by TotalEnergies from our project will provide affordable, reliable, and secure energy to customers around the world,” he noted. The expansion comes amid strong global LNG demand growth, with Europe seeking secure alternatives to Russian gas and Asia driving long-term consumption. For TotalEnergies—the world’s third largest LNG player with a 40 Mtpa global portfolio—the move supports its strategy to raise natural gas to nearly half its sales mix by 2030 while phasing down coal and reducing methane emissions. With Train 4 advancing, Rio Grande LNG is set to cement its role as one of the largest LNG export hubs in North America, reinforcing the U.S.’s position as the world’s leading LNG supplier.
Japan’s JERA Eyes 20-Year LNG Deal With Alaska LNG
JERA is considering joining companies making commitments for purchases of liquefied natural gas from the Alaska LNG project, Reuters has reported, with a preliminary letter of intent mentioning 1 million tons annually over a 20-year period. The developer of the Alaska LNG project, Glenfarne, has been busy in the past months finding companies willing to make offtake commitments for the $44-billion project that is being actively promoted by the Trump administration. The company is yet to make a final investment decision on Alaska LNG but plans to make one for the facility’s pipeline by the end of the year, and another for its export terminal in 2026. Japanese companies have been particularly interested in the Alaska LNG project, for geographical reasons and because the government in Tokyo committed to buying $7 billion in U.S. energy per year as part of the trade deal with Trump to avoid tariffs. Energy companies are ready to commit to buying $115 billion worth of LNG from Alaska once President Trump’s pet energy project gets done, Glenfarne said in June, noting that as many as 50 companies have expressed formal interest. However, there have been reports about Japanese companies expressing worry about the price tag of the project, which may end up being too high. Earlier this month, Reuters reported that Japan had hired Wood Mackenzie to study the long-term viability of Alaska LNG with a view to reassuring Japanese investors that their investment would be safe. The Alaska LNG project involves an 800-mile gas pipeline running from Alaska’s North Slope to a liquefaction plant on the southern coast, enabling stranded reserves to reach global markets. Despite decades of planning, the sheer cost and remoteness have left the project on ice for quite a while. Now, President Trump is championing the project and 9its commercial viability appears to have improved.
India’s Petroleum and Other Liquid Fuels Consumption seen up around 3% on year in 2025
Energy Information Administration or EIA stated in a latest monthly update that India’s Petroleum and Other Liquid Fuels Consumption is expected to see a continued increase in new few quarters. It estimates India’s petroleum and other liquid fuels consumption at 5.64 million barrels per day (mbpd) in 2025, up 3.10% compared to previous year. The consumption is seen rising to 5.92 mbpd in 2026, up around 5% compared to 2025. India’s Petroleum and Other Liquid Fuels production is also seen rising around 3% on year to 1.05 mbpd in 2026.
It may not be possible to bring petrol, diesel under GST for time being: CBIC chief Sanjay Agarwal
As discussions continue to bring petrol and diesel within the ambit of Goods and Services Tax (GST), Chairman of the Central Board of Indirect Taxes and Customs (CBIC) Sanjay Kumar Agarwal said it may not be possible to bring these items under the indirect taxation for the time being. Asked if petrol and diesel should be brought under GST, Agarwal told IANS that petrol and diesel are presently subject to central excise duty and value-added tax (VAT), as these two petroleum items fetch a substantial revenue to the states by way of VAT and to the Central government by way of central excise duty. “So, looking to the revenue implications, it may not be possible to bring these items under the ambit of GST for the time being,” he added. The CBIC Chairman’s comment came as Finance Minister Nirmala Sitharaman said last week that the Central government intentionally did not include petrol and diesel in the GST Council proposal. “Legally, we are ready, but this decision must come from the states,” she said. According to her, petrol and diesel were set to figure, “even when GST was implemented, I remember my late predecessor Arun Jaitley talking about it”. “Once the states agree, they have to decide on the rate of taxation in the council. Once that decision is taken, it will be put into the act,” FM Sitharaman noted. In the GST implemented in July 2017, products like petrol, diesel, and alcoholic beverages were kept outside its ambit since then. These commodities are major revenue sources for both the Central and state governments through excise duty and VAT. For several states, these contribute over 25-30 per cent of their tax revenue. States fear losing control over taxation policy, pricing, and the ability to influence consumption patterns through excise duty and VAT.