France`s Total Buys Engie`s LNG Assets for $1.5 Billion

Related Articles

Gazprom Cuts Gas to Austria off, just in Time for Winter

13 hours ago

European Oil Giants Commit $500 Million to Help Boost Access to Energy

2 days ago

Saudi Aramco Reports 15pc Drop in Q3 Profit but Maintains Dividend

7 days ago

French oil and gas major Total said on Wednesday it has reached an agreement to buy the liquefied natural gas (LNG) assets of energy group Engie in a deal worth $1.5 billion.
Total said the portfolio includes all of Engie’s LNG trading and liquefaction assets. which will enable it become one of the world’s top LNG players with a 10 percent market share from 6 percent currently. making it second behind rival Shell.
Additional payments of up to $550 million could be payable by Total in case of an improvement in the oil markets in the coming years. it said.
The companies confirmed in October that they were in talks over Engie’s global liquefied natural gas (LNG) assets.