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Total to buy Engie's upstream LNG business for $1.5B

Published 11/08/2017, 12:58 PM
© Reuters.  Total to buy Engie's upstream LNG business for $1.5B
SHEL
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SASY
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NG
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TTE
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ENGIY
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  • Total (TOT -0.2%) agrees to acquire Engie's (OTCPK:ENGIY +2.4%) upstream liquefied natural gas assets for $1.5B, pushing itself into second place in the sector globally.
  • The portfolio includes participating interests in liquefaction plants, notably the Cameron LNG project in the U.S., long-term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe.
  • TOT says the deal will allow it to hit an overall volume of ~40M metric tons/year of LNG, making it world's second largest oil major behind only Shell (LON:RDSa), with a worldwide market share of 10%.
  • Now read: Applying Mathematics To Analyse Financial Markets - Part 3, Results And Examples For Sanofi (PA:SASY) And Total


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