Total May Hike Stake in Ichthys LNG Project Later This Year

Total is expected to increase its stake in Ichthys liquefied natural gas project in Australia later this year, Reuters reported.

Christophe de Margeri, company’s chief executive, said Total is awaiting approvals for the deal to be cleared, adding it is hard to predict if the green light would come in the first or second half of 2012.

The French energy giant had said last month that stake purchase may happen in weeks.

"I was too optimistic," Margerie told Reuters.

The company had first expressed interest in to raise its stake in Ichthys to 30 percent from 24 percent  in December last year.