Total strengthens its sustainable position in the liquefied natural gas (LNG). The oil will acquire a part of the activities of Engie (ex-GDF Suez) for an enterprise value (debt included) of 1.49 billion ($1.28 billion). It could add $ 550 million if the price of oil went up. The finalisation of the agreement is expected to occur in mid-2018.
This acquisition illustrates the strategy of Patrick Pouyanné, CEO of the group, to continue to invest heavily in the different stages of the chain of the gas. Once focused mainly on oil, Total defends today, an energy mix based on gas, considered a less CO2-emitting than oil.
