Total to sell 65% stake in Dunkerque LNG

Total to sell 65% stake in Dunkerque LNG

Total has decided to enter into an agreement to sell its 9.99% stake in the Dunkerque LNG terminal.

The move is a part of a broader sale process initiated by EDF (65.01%) earlier this year.

Total said in a statement that At the completion of the transactions two buyers, a consortium composed by Fluxys Europe B.V. (currently 25%), AXA Investment Managers and Crédit Agricole Assurances on one hand and another consortium composed of Samsung Securities Co. Ltd., IBK Securities Co. Ltd. and Hanwha Investment & Securities Co. Ltd on the other hand, will hold a 35.76% and 39.24% respectively. Closing is expected for the third quarter of 2018, once required regulatory approvals have been granted by the relevant authorities.

The Group will keep a regasification capacity right of around 1.5 million tons per annum.