Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

ENGIE (ENGI)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Engie : Total to acquire Engies upstream and midstream LNG assets for $1.5bn

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/10/2017 | 03:17pm CET

Oil giant Total has signed an agreement to acquire French utility Engies upstream and midstream LNG assets in the US, for $1.49bn.

Under the terms of the deal, Total will acquire 16.6% stake in the Cameron LNG liquefaction plant with 3 trains currently under construction in Louisiana, US as well as 5% stake in the first train of the Idku LNG project in Egypt.

The firm said it will also acquire a portfolio of long-term LNG purchase and sale contracts, which would boost its overall portfolio to 28 million tons per annum (MTPA) by 2020.

Additionally, Total will acquire access to regasification capacities of 14 MTPA in Europe as well as a fleet of 10 LNG tankers.

Total said that it would pay an additional $550m to Engie, a unit of GDF Suez, based on future oil market developments.

Total chairman and CEO Patrick Pouyann said: 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 tons of LNG per year by 2020, making Total the second largest global player among the majors with a worldwide market share of 10%.

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 sale is part of Engies strategy to reduce its exposure to commodity prices and move away from upstream oil and gas activities.

Engie CEO Isabelle Kocher said: Engie is nonetheless accelerating its development in its LNG downstream activities, notably in the regasification domain and the supply of LNG to its end customers.

Scheduled to be completed in 2018, the transaction is subject to approvals by the relevant regulatory authorities, among others.

Separately, Engie has signed an agreement to become Total`s preferred green gases supplier.

(c) 2017 CNEgypt. 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
0
Latest news on ENGIE
02:54p RWE's options to exit Innogy include deal with Enel - sources
11/17 ENGIE : Repair and maintenance services of electrical building installations
11/17 ENGIE : A world first Inauguration of the Organic Photovoltaic Roof of the Mende..
11/17 German gas supplier VNG in talks to sell Norwegian energy business -sources
11/15 EXCLUSIVE : Carlyle seeks to raise $1 billion for new energy fund - sources
11/15 A WORLD FIRST : Inauguration of the Organic Photovoltaic Roof of the Mendes-Fran..
11/15 ENGIE : The world's largest BiOPV installation completed in France using Heliate..
11/15 A WORLD FIRST : Inauguration of the Organic Photovoltaic Roof of the Mendès-Fran..
11/15 Innogy to exit British retail JV with SSE in long term - CEO
11/14 ENGIE : Hague & London Oil Completes Acquisition of Tullow's Dutch North Sea Ass..
More news
News from SeekingAlpha
04/18 FOCUS ON EUROPE : Will Marine Le Pen Become France's Next President?
2015 Cheniere to sell liquefied natural gas to Engie
2015 Suez Is In A Growth Business But Is Too French
2015 EDF - Cover Your Short For Now On Areva Deal, But Long Term Prefer Engie
2015 SHORT EDF/ LONG ENGIE : Why Investors Should Prefer Commodities Over Politics
Financials (€)
Sales 2017 63 887 M
EBIT 2017 5 585 M
Net income 2017 2 488 M
Debt 2017 23 372 M
Yield 2017 4,89%
P/E ratio 2017 14,10
P/E ratio 2018 13,75
EV / Sales 2017 0,91x
EV / Sales 2018 0,86x
Capitalization 34 837 M
Chart ENGIE
Duration : Period :
Engie Technical Analysis Chart | ENGI | FR0010208488 | 4-Traders
Technical analysis trends ENGIE
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 15,6 €
Spread / Average Target 8,9%
EPS Revisions
Managers
NameTitle
Isabelle Kocher Chief Executive Officer & Director
Gérard Mestrallet Chairman
Judith Hartmann Chief Financial Officer & Executive Vice President
Anne-Marie Mourer Director
Alain Beullier Director
Sector and Competitors
1st jan.Capitalization (M$)
ENGIE18.03%41 064
NATIONAL GRID PLC-7.23%39 489
ELECTRICITÉ DE FRANCE13.70%34 732
SEMPRA ENERGY18.75%30 006
E.ON45.94%25 369
PPL CORP6.49%24 964