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>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 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 1

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

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