French major Total is taking its global managed liquefied natural gas portfolio up to 40 million tonnes per annum after agreeing a deal potentially worth $2.04 billion for Engie’s upstream LNG assets.
The Paris-based giant is paying $1.49 billion for the clutch of its compatriot's assets — including a minority stake in the under-development Cameron LNG project in the US — plus up to an additional $550 million due to its compatriot in the event of an oil industry upturn.
