Engie confirms review of upstream, midstream LNG business

Engie confirms review of upstream, midstream LNG business

French energy giant and LNG player Engie confirmed it has started negotiation with interested counterparties to sell its upstream and midstream LNG activities.

Following media reports claiming the company entered talks with compatriot Total to sell its LNG business, Engie said it has launched “a strategic review of its upstream and midstream LNG activities (liquefaction, transport and international trading of LNG).”

The downstream LNG activities, such as regasification and LNG ex-terminal sales, are not part of the review, the company said in its response.

“At this stage, there can be no certainty as to whether the discussions with the counterparties, including Total, will lead to any agreement,” the statement reads.

If the talks come to fruition, the LNG business would become the next in line under Engie’s portfolio rotation program unveiled in February 2016, that will see the company disposing of assets in the value of €15 billion ($17.6 billion) during the 2016-2018 period.

Share this article

Follow LNG World News

Posted on October 24, 2017 with tags .

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >