Mexico: Total Closes Its Participation in the Energía Costa Azul LNG Export Project
December 10 2020 - 3:00AM
Dow Jones News
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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20201209006103/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: Total
Copyright Business Wire 2020
(END) Dow Jones Newswires
December 10, 2020 02:45 ET (07:45 GMT)
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