Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Paris  >  Engie    ENGI   FR0010208488

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

Engie : Total becomes the second largest global LNG player

share with twitter share with LinkedIn share with facebook
share via e-mail
11/10/2017 | 03:14pm CET

Total has signed an agreement with Engie to acquire its portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of $1.49 billion. This portfolio includes participating interests in liquefaction plants, notably the interest in the Cameron LNG project in the US, long term LNG sales and purchase agreements, an LNG tanker fleet as well as access to regasification capacities in Europe. Additional payments of up to $ 550 million could be payable by Total in case of an improvement in the oil markets in the coming years.

The acquisition of Engies upstream LNG business enables Total to accelerate the implementation of its strategy to integrate along the full gas value chain, in an LNG market growing strongly at 5% to 6% per year. The combination of these two complementary portfolios will allow the Group to manage an overall volume of around 40 million tonnes of LNG per year by 2020, making Total the second largest global player among the majors with a worldwide market share of 10%, commented Patrick Pouyann, Chairman & Chief Executive Officer of Total. With the equity stake in the Cameron LNG project, Total will also become an integrated player in the US LNG market, where the Group is already a gas producer.

The proposed transaction is subject to the applicable legally required consultation and notification processes with employee representatives as well as approvals by the relevant regulatory authorities and partners on certain contracts. The transaction is expected to close by mid 2018 and will have an effective date of 1st January 2018.

Following the transaction, Total will take over the teams in charge of the LNG activities at Engie, which represents around 180 employees.

In addition, in parallel with this transaction, Total and Engie agreed to cooperate to promote the use of biogas and renewable hydrogen, with Engie becoming Total`s priority supplier in this field.

This transaction will bring to Total:

2.5 MTPA of liquefaction capacity to reinforce Total`s existing portfolio, bringing it to 23 MTPA by 2020, with:

16.6% equity stake in the Cameron LNG liquefaction plant with 3 trains currently under construction in Louisiana and the potential to expand by adding two further trains.

5% equity stake in the first train of the Idku LNG project in Egypt.

A portfolio of long-term LNG purchase and sale contracts, enabling the Group in increase its overall portfolio to 28 MTPA by 2020, with a diversified supply from Algeria, Nigeria, Norway, Russia, Qatar and the USA, and outlets balanced between Europe and Asia.

The access to regasification capacities of 14 MTPA in Europe, which, combined with the existing 4 MTPA of Total, allows the Group to balance its consolidated purchase and sales portfolio.

A fleet of 10 LNG tankers which will be consolidated with the 3 LNG carriers of Total.

Overall, combining its interests in liquefaction plants and its portfolio of third party supply contracts, the Group will manage a global volume of nearly 40 MTPA.

(c) 2017 MediaQuest Corp. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ENGIE
02/18ENGIE : France’s Engie to provide 3 LNG cargoes for Egypt in Q2-18
02/17ENGIE : Oil and Gas UK Issues Statement on Transaction Completion
02/16France's EDF stock up on strong 2018 outlook and dividend surprise
02/15SOLVAY : accelerates succession plan for its CEO Jean-Pierre Clamadieu
02/15Exclusive - Petrobras sets next bid round for TAG pipeline to late March
02/14ENGIE : chairman expresses support for CEO, says Engie should consider acquisiti..
02/14ENGIE : Services announces acquisition of digital control specialists, Les Contr..
02/14ENGIE : Merced County 'throws switch' on solar project to save money
02/13JEAN-PIERRE CLAMADIEU : Engie to Appoint Jean-Pierre Clamadieu as Chairman
02/12JEAN-PIERRE CLAMADIEU : French government backs Solvay's Clamadieu as new Engie ..
More news
News from SeekingAlpha
01/30Of 91 Utilities, 24 Pay 'Safer' Dividends To January 2019 
2017FOCUS ON EUROPE : Will Marine Le Pen Become France's Next President? 
2015Cheniere to sell liquefied natural gas to Engie 
2015Suez Is In A Growth Business But Is Too French 
2015EDF - Cover Your Short For Now On Areva Deal, But Long Term Prefer Engie 
Financials (€)
Sales 2017 64 075 M
EBIT 2017 5 365 M
Net income 2017 2 387 M
Debt 2017 24 562 M
Yield 2017 5,53%
P/E ratio 2017 12,79
P/E ratio 2018 12,57
EV / Sales 2017 0,86x
EV / Sales 2018 0,83x
Capitalization 30 806 M
Duration : Period :
Engie Technical Analysis Chart | ENGI | FR0010208488 | 4-Traders
Technical analysis trends ENGIE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 15,6 €
Spread / Average Target 24%
EPS Revisions
Isabelle Kocher Chief Executive Officer & Director
Gérard Mestrallet Chairman
Judith Hartmann Chief Financial Officer & Executive Vice President
Yves Le Gélard Chief Information & Digital Officer
Shankar Krishnamoorthy Head-Research, Technology & Strategy
Sector and Competitors
1st jan.Capitalization (M$)
ENGIE-12.63%38 251
NATIONAL GRID PLC-15.34%35 376
SEMPRA ENERGY-1.36%26 511
ORSTED8.06%25 908
E.ON-11.67%22 094