Total Exits French LNG Terminal
France’s Total announced on February 6 it had sold its 27.5% stake in the 8.25bn m3/yr Fos Cavaou LNG import terminal near Marseille to its operator Elengy, for $260mn.
Total said the disposal of the “non-strategic” midstream infrastructure would help towards its goal of divesting $5bn of assets in 2019 and 2020.
The sale means Elengy now has 100% control of the Fos Cavaou plant. It also operates France’s two other LNG terminals in Montoir-de-Bretagne and Fos Tonkin.