LNG

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
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. 

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