Total: buys Engie's upstream LNG business.

(CercleFinance.com) - On Wednesday evening, Total announced a key transaction in the form of an agreement with its compatriot Engie for the acquisition of its upstream liquefied natural gas (LNG) assets for an enterprise value of 1.
49 billion dollars.

This portfolio includes stakes in liquefaction plants and particularly a stake in the Cameron LNG project in the United States, contracts for the purchase and long-term sales of LNG, a fleet of tankers as well as of rights of way in regasification terminals in Europe.

After the transaction, Total will take charge of Engie's teams which are responsible for LNG businesses, i.e. about 180 employees. In addition to this transaction, Total and Engie have also agreed to cooperate to promote the use of biogas and renewable hydrogen, with Engie becoming Total's priority provider of these materials.


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