Total-Engie deal shows value in US upstream assets

Total’s acquisition of Engie’s LNG assets shows it has confidence in the sector, analysts say Total’s acquisition of Engie’s LNG assets shows it has confidence in the sector, analysts say.
By Annemarie Botzki 23 November 2017 0 28518
An lng bunkering ship in Rotterdam Engie's LNG bunkering vessel. (Port of Rotterdam)

Total’s acquisition of Engie’s LNG assets for $1.49 billion shows its belief in the United States LNG sector. Buying up Engie’s fleet of LNG vessels is also a chance for Total to exercise more choice over where cargoes are sent. 

Total struck an agreement with Engie to acquire the assets on 8 November. As part of the deal, Total will gain a 16.6% share in the Cameron LNG project in the US plus the tanker fleet and access to regasification terminals in Europe. 

LNG export...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up