TotalEnergies: agreement with GIP on Gladstone LNG

(CercleFinance.com) - TotalEnergies today announced that it has entered into a 750 million dollar agreement with GIP Australia (GIP) for the Gladstone LNG downstream facilities owned by its subsidiary Total GLNG Australia (TGA).


The Gladstone LNG project includes natural gas production from the Fairview, Arcadia, Roma and Scotia fields and also includes the delivery of production to a gas liquefaction plant located at the Gladstone Industrial Port on the east coast of Australia.

The downstream facilities consist mainly of the gas transportation system and the liquefaction plant, TotalEnergies said.

Under the agreement, GIP will receive a 15-year tolling fee based on the volumes of TGA's share of gas passing through the downstream processing facilities.

TGA retains full control and ownership of its 27.5% stake in the Gladstone LNG downstream joint venture.


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