RWE Buys $900 Million LNG Stake From Trump Donor's Firm as $1.2 Billion Wind Settlement Draws Scrutiny
Updated
Updated · The Washington Post · Aug 27
RWE Buys $900 Million LNG Stake From Trump Donor's Firm as $1.2 Billion Wind Settlement Draws Scrutiny
1 articles · Updated · The Washington Post · Aug 27
Summary
$900 million of RWE’s $1.2 billion federal settlement will buy into Louisiana LNG, with the stake coming from Stonepeak, the firm led by Trump donor Michael Dorrell.
Dorrell gave about $1 million to Trump’s inaugural committee after the 2024 election, though the White House, Interior Department and RWE said officials did not steer the investment and that RWE chose the project independently.
Rep. Jared Huffman said he will widen an existing probe into the offshore-wind settlements, which now total nearly $4 billion and have voided a dozen leases, while several states are already challenging them in federal court.
Woodside said the transaction will not change Louisiana LNG’s ownership or development plans, and analysts said the deal appears to let Stonepeak trim exposure rather than add new energy supply to a project already viewed as risky.