Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » European Commission clears Total, Engie $1.5 billion LNG deal

    European Commission clears Total, Engie $1.5 billion LNG deal

    April 15, 2018
    Share
    Facebook Twitter LinkedIn WhatsApp

    15 April 2018, News Wires – The European Commission has cleared the acquisition of French Engie’s portfolio of upstream liquefied natural gas (LNG) assets by compatriot Total, according to LNG World News.

    The deal, announced in November last year is worth around $1.49 billion.

    European Commission concluded that the deal, one of the largest in the industry in years, would not give rise to competition concerns in light of the limited overlap between Total’s and Engie’s LNG activities in the wholesale supply, transportation and regasification of LNG.

    As part of the LNG portfolio acquisition, Total will take control of participating interest in natural gas liquefaction plant in the United States, the Cameron LNG project, long-term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe.

    Under the transaction, Total adds 2.5 mtpa of liquefaction capacity to its existing portfolio that will rise to 23 mtpa by 2020.

    In terms of long-term LNG sale and purchase deals (SPAs) Total’s overall portfolio will rise to 28 MTPA by 2020, with a diversified supply from Algeria, Nigeria, Norway, Russia, Qatar and the USA.

    Gaining access to 14 mtpa of regasification capacity in Europe, Total’s overall capacity will be boosted 18 mtpa.

    The acquisition which is expected to close will also see Total take over control of a fleet of 10 LNG tankers.

    Related News

    ADNOC Gas takes FID and awards $5b contracts for RGD project

    ‘Shell’s decision on Phase 2 of LNG Canada will depend on other opportunities’

    Nigeria loses N710bn to gas flaring in four months

    E-book
    Resilience Exhibition

    Latest News

    LASG approves seven dedicated truck parks for Lekki Port axis

    June 13, 2025

    NCDMB Executive Secretary joins AEW 2025 amid focus on enhancing local capacity

    June 13, 2025

    AfDB to provide $184.1m for Africa’s largest solar energy and battery storage project

    June 13, 2025

    NSC seeks closer collaboration with Police to boost port enforcement

    June 13, 2025

    Can the African Energy Bank transform the continent’s refining and downstream future?

    June 13, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.