After E&P, Engie now in talks to sell LNG business?

French energy company Engie has said it has launched a strategic review of its upstream and midstream LNG activities.

The company confirmed this on Monday, following press speculation that it is in talks to sell its LNG business to its rival and compatriot, Total.

Engie, formerly known as GDF Suez, on Monday confirmed it had launched a strategic review of its activities, but said that downstream LNG activities, such as regasification and LNG ex-terminal sales, are not part of the review.

“At this stage, there can be no certainty as to whether the discussions with the counterparties, including Total, will lead to any agreement. Any agreement would have to be approved by the relevant governance bodies and the relevant employee representative bodies would have to be consulted,” Engie said.

To remind, Engie in May this year received a takeover offer from Neptune for its oil and gas exploration and production business.

 Neptune, an investment firm established in 2015 by an ex-Centrica boss Sam Laidlaw,  offered to buy Engie’s 70% interest in Exploration & Production International (“EPI”) for an aggregate value of €4.7 billion (at 100%, including €1.1 billion in decommissioning liabilities deconsolidated from ENGIE’s balance sheet).

Based on the offer, Engie in May entered into exclusive negotiations with Neptune Energy. The completion of the transaction for the E&P business is expected in the first quarter of 2018.

Share this article

Follow Offshore Energy Today

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply