Total S.A. Total Sells Its Interest in the Fos Cavaou Regasification Terminal
06 Febrero 2020 - 4:07AM
UK Regulatory
TIDMTTA
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has divested its 27.5%
interest in Fosmax LNG, operator of the Fos Cavaou liquefied
natural gas (LNG) terminal, as a result of a competitive sale
process to Elengy, Fosmax LNG's shareholder with a 72.5% stake,
that exercised its preemption right.
The consideration for the transaction is around $260 million,
including acquisition of a shareholder loan and excluding any
earnouts. This sale of non-strategic midstream infrastructure asset
will contribute to Total's objective of divesting five billion
dollars in 2019-2020.
The Group retains its regasification capacity of around 5.5
million tons per annum (mtpa) at the terminal, equivalent to some
90% of its overall capacity. Total currently has regasification
capacity of around 18 mtpa in Europe, allowing it to serve local
market demand with LNG from the multiple sources in its world-class
portfolio.
About Total
Total is a major energy player that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms "Total", "Total Group" and
Group are sometimes used for convenience. Likewise, the words "we",
"us" and "our" may also be used to refer to subsidiaries in general
or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
Total Contacts Media Relations: +33 1 47 44 46 99 l
presse@total.com l @TotalPressInvestor Relations: +44 (0)207 719
7962 l ir@total.com
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(END) Dow Jones Newswires
February 06, 2020 05:07 ET (10:07 GMT)
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