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TOTAL (FP)
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Total : To put gas in American trucks

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05/10/2018 | 12:31pm CEST

Less than a month after the buyback of Direct Energie, Total is at it again. The French company reinforces its external growth by attacking a niche market in the natural gas field through the acquisition of a 25% stake in the US firm Clean Energy.


The diversification continues for the French oil conglomerate that now bets on the natural gas market for heavy-duty trucks in the United States. To do so, Total will spend more than 83 million dollars to own a quarter of Clean Energy, and thus become its major shareholder. The latter, a relatively new company, currently operates more than 550 gas stations in North America.

A win-win situation 

On the one hand, Total will now take a step forward on the American continent, while promoting more eco-friendly types of energy thanks to this agreement. Its CEO Patrick Pouyanné insists on the fact that “natural gas can become the fuel of choice”, adding that “Total believes there is a strong development opportunity in natural gas for the transportation market”, especially in the US. This program is fully in line with the group’s strategy: to multiply its natural gas operations in order to reduce greenhouse gas emissions and to expand its activities around the world.
 

Total and its gas activities around the globe (Source : Total website)

On the other hand, Clean Energy, one of the leading providers of natural gas fuel and renewable natural gas (i.e. biomethane) fuel for transportation, benefits from this buyback program as well. The company will receive major financial support for its massive project - a leasing offer for heavy-duty trucks running on natural gas - for which Total will provide guarantees of up to 100 million dollars to Clean Energy.

This project, set to be launched in the third quarter 2018, aims to put thousands of trucks on the road that are equipped with natural gas engines rather than diesel, which is much more polluting. Stakeholders should approve this transaction during the general meeting planned on June 8, the last condition for the investment of the French group to go ahead.
Stocks mentioned in the article
ChangeLast1st jan.
CLEAN ENERGY FUELS CORP 1.53% 2.6508 Delayed Quote.29.06%

Floriane Rousseaux
© 4-traders.com 2018
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Financials ($)
Sales 2018 193 B
EBIT 2018 19 270 M
Net income 2018 12 738 M
Debt 2018 21 283 M
Yield 2018 4,93%
P/E ratio 2018 12,51
P/E ratio 2019 11,89
EV / Sales 2018 0,96x
EV / Sales 2019 0,94x
Capitalization 164 B
Chart TOTAL
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Total Technical Analysis Chart | FP | FR0000120271 | 4-Traders
Technical analysis trends TOTAL
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 67,4 $
Spread / Average Target 9,9%
EPS Revisions
Managers
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Patrick de la Chevardière Chief Financial Officer
Jean-François Minster Senior Vice President-Scientific Development
Marie-Noelle Semeria Group Chief Technology Officer & Senior VP
Patrick Artus Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TOTAL18.36%164 200
ROYAL DUTCH SHELL12.83%301 365
PETROCHINA COMPANY5.32%225 491
PETROLEO BRASILEIRO SA PETROBRAS55.59%91 748
EQUINOR25.06%89 307
ENI16.68%67 712