TotalEnergies wants to focus on ‘core producing assets’ instead
TotalEnergies sells Gladstone LNG facilities
The French major continues to trim its portfolio
TotalEnergies subsidiary Total GLNG Australia (TGA) has sold the downstream facilities of the Gladstone LNG (GLNG) project to equity fund Global Infrastructure Partners (GIP) for more than $750mn, effective 1 January this year. Under the deal, GIP will receive a toll based on TGA’s share of the gas processed by Gladstone for 15 years. The transferred facilities comprise the project’s two-train liquefaction plant and a 400km pipeline network connecting Gladstone to the Fairview, Arcadia, Roma and Scotia gas fields. TGA retains its 27.5pc stake in the GLNG joint venture itself, alongside ASX-listed Santos (30pc), Malaysia’s state-owned Petronas (27.5pc) and South Korean utility Kogas (15pc).
Also in this section
18 December 2024
The December/January issue of Petroleum Economist is out now!
17 December 2024
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
17 December 2024
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy
17 December 2024
The incoming administration is expected to quickly change-up the LNG approvals process and boost several major projects to FID. But market fundamentals still matter
