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French energy company investing in U.S. Gulf Coast energy sites

Secl via Wikimedia Commons

Total SA, a French energy company, is partnering with Nova and Borealis in building two units on the U.S. Gulf Coast as part of a multi-billion dollar petrochemical venture. One unit will convert natural gas into chemicals used in plastic, and the other will be a polyethylene plant, both in Texas.

Why it matters: The move is betting on the Trump Administration's ability to maintain a "business-friendly environment," but might have even longer-term effects: CEO Patrick Pouyanne said this was part of an effort to boost Total's long-range presence in the U.S.