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.
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