Total shores up LNG market share with Engie asset grab
The French supermajor's acquisition gives it access to 10% of the global LNG market, second only to Shell
Total's acquisition of Engie's liquefied natural gas assets significantly strengthens the French supermajor's gas portfolio. For French utility company Engie, it offers an exit route from its upstream operations and reduces its exposure to energy-price volatility. Total has agreed to acquire all of Engie's upstream LNG assets, for around $1.49bn-$2bn.The final amount will depend on future oil price movements. These include its stakes in the Cameron LNG plant on the Louisiana coast and other liquefaction plants, as well as long-term LNG sales and purchase agreements, an LNG tanker fleet and access to regasification capacities in Europe. The deal, which requires regulatory approval, is expecte
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
