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
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
