France-headed global energy major Total SA has announced that it has decided to enter into an agreement to sell its 9.99 percent stake in the French Dunkerque LNG terminal, as a part of a broader sale process initiated by compatriot energy major EDF earlier this year. EDF has a 65.01 percent share in the facility.
According to a statement June 29, at the completion of the transactions two buyers, a consortium composed by Fluxys Europe B.V. (currently 25 percent), AXA Investment Managers and Crédit Agricole Assurances on one hand and another consortium composed of Samsung Securities Co. Ltd., IBK Securities Co. Ltd. and Hanwha Investment & Securities Co. Ltd, on the other hand, will hold a 35.76 percent and 39.24 percent respectively.
Closing is expected for the third quarter of 2018, once required regulatory approvals have been granted by the relevant authorities. The Group will keep a regasification capacity right of around 1.5 million tonnes per annum.
