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Paris . The largest French oil company, Total, announced on Friday that it has reached a $ 1,500 million deal for the acquisition of Engie's natural gas liquefaction (LNG) business and will become the largest oil company in the world. second player in the global LNG market.
Total said that it would make additional payments of 550 million US dollars to Engie if there was an improvement in the oil markets next year.
CEO Patrick Pouyanne said in a statement that the deal will give "Acquiring Engie's LNG business is a real change for Total, allowing us to leverage the size and flexibility of the LNG market, increasingly marketed and growing, "he added. said in a statement
After the transaction, Total said they will have a portfolio of liquefaction capacity of 23 million tons a year, distributed in Medio Orient e, Australia, Russia and the United States [19659005TheagreementwillallowthegrouptomanageaglobalLNGportfolioofabout40milliontonnesperyearby2020andincreaseitsUSmarketparticipationwitha16%stakeEngie'sLNGportfolioincludesinterestsinliquefactionplantsinparticulara166%interestintheplannedCameronLNGprojectintheUnitedStatesagreementsforthelong-termpurchaseandsaleofLNGtankerfleetandaccesstoregasificationfacilitiesinEurope
After the transaction, Total announces it has a portfolio of liquefaction capacity of 23 million tonnes distributed in the Middle East, Australia, Russia and the United States
They will also have a global portfolio LNG marketing contracts of 28 million tonnes per year, or 18 million tonnes per year. in the European regasification capacity and a fleet of 18 LNG carriers
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