Mexico: Total Closes Its Participation in the Energía Costa Azul LNG Export Project
December 10 2020 - 2:30AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT), Sempra LNG and IEnova
have signed binding agreements finalizing Total’s equity investment
in the Energía Costa Azul liquefied natural gas export project (ECA
LNG), located in Baja California, Mexico.
Total now holds a 16.6% equity share of the project, for which
the final investment decision was taken last November for the
development, construction and operation of a single-train
liquefaction facility with a nameplate capacity of 3.25 million
tonnes per annum (Mtpa) of LNG and an expected start in 2024. Last
April, Total also closed a twenty-year offtake agreement for 1.7
Mtpa of LNG.
“We are very pleased to further strengthen our partnership with
Sempra Energy through our participation in the ECA LNG project,
that benefits from brownfield synergies with existing facilities
and from the proximity to Asian markets,” said Philippe
Sauquet, President Gas, Renewables & Power at Total. “This
investment is in line with our strategy to grow our LNG integrated
portfolio across the entire gas value chain, which is a key to meet
a growing global demand for energy while decreasing the carbon
intensity of the products sold to our customers.”
ECA LNG is owned by Sempra LNG (41.7%), IEnova, Sempra Energy's
subsidiary in Mexico (41.7%), and Total (16.6%).
Total, Second Largest Private Global LNG Player
Total is the world's second
largest privately owned LNG player, with a global portfolio of
nearly 50 Mtpa by 2025 and a global market share of around
10%.
The Group benefits from strong
and diversified positions throughout the LNG value chain: gas
production and liquefaction, LNG transportation and trading, and
contribution to the development of the LNG industry for maritime
transport.
Through its interests in
liquefaction plants in Qatar, Nigeria, Russia, Norway, Oman, Egypt,
the United Arab Emirates, the United States, Australia and Angola,
the Group markets LNG on all world markets.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
* * * * *
Cautionary Note This press release, from which no legal
consequences may be drawn, is for information purposes only. The
entities in which TOTAL SE directly or indirectly owns investments
are separate legal entities. TOTAL SE has no liability for their
acts or omissions. In this document, the terms “Total”, “Total
Group” and Group are sometimes used for convenience. Likewise, the
words “we”, “us” and “our” may also be used to refer to
subsidiaries in general or to those who work for them. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
a given economic, competitive and regulatory environment. They may
prove to be inaccurate in the future and are subject to a number of
risk factors. Neither TOTAL SE nor any of its subsidiaries assumes
any obligation to update publicly any forward-looking information
or statement, objectives or trends contained in this document
whether as a result of new information, future events or
otherwise.
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