The U.S. Interior Department has agreed with two offshore wind developers to cancel their leases and redirect capital toward domestic oil, gas and LNG projects, signaling a policy-driven shift in investment flows. The agreements come amid a broader push to prioritize conventional energy development and reduce reliance on projects deemed uneconomic without subsidies, following a similar arrangement with TotalEnergies. Under the deal, Bluepoint Wind will divert up to $765 million—matching its original lease bid—into a domestic LNG facility, while Golden State Wind will invest roughly $120 million into U.S. oil and gas assets, energy infrastructure and LNG development along the Gulf Coast. Lease payments will be reimbursed once the equivalent investments are made. Interior officials said the agreements are intended to support reliable, baseload energy while reducing reliance on projects viewed as uneconomic without subsidies. Interior Secretary Doug Burgum added that the deals reflect a broader effort to strengthen U.S. energy security and that companies are once again investing in affordable, reliable, secure energy infrastructure. The shift could free up capital for LNG facilities, pipeline projects and upstream development, especially along the Gulf Coast, as the U.S. seeks to meet rising domestic and international demand amid ongoing supply disruptions.