Total has signed an agreement to divest 4% of its interest in Australia’s Ichthys LNG plant, according to a company press release published on Thursday.
The transaction, which is subject to Australian regulatory approvals, will reduce Total’s interest in Ichthys to 26%. The sale is part of Total’s capital discipline policy and is a response to the major cost overruns and delays during the construction of the facility.
The 4% share is expected to be worth around $1.6 billion. Both trains at Ichthys are...
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