In a statement posted on its website, the company outlined that it has completed a transaction with GIP, in relation to the downstream facilities of Gladstone LNG, which is owned by Total GLNG Australia (TGA), for a consideration of more than $750 million.
As part of the deal, GIP will receive a throughput-based tolling fee calculated on TGA’s share of gas processed through the downstream facilities over a period of 15 years, TotalEnergies highlighted.
Under the agreement, TGA will retain full control and ownership of its 27.5 percent interest in the Gladstone LNG downstream joint venture, Rigzone reports.
The deal has an effective date of January 1, 2021.
“We have worked closely with GIP to achieve this infrastructure transaction and are happy of this first collaboration with such an experienced infrastructure partner,” Jean-Pierre Sbraire, the chief financial officer (CFO) of TotalEnergies, said in a company statement.
“This monetization of infrastructure assets contributes to focusing further TotalEnergies’ capital on core producing assets and fully reflects TotalEnergies’ active portfolio management,” the TotalEnergies CFO added.
The Gladstone LNG project comprises the production of natural gas from the Fairview, Arcadia, Roma, and Scotia fields, which are located in the Bowen-Surat Basin in Queensland, Australia, and its transportation over approximately 250 miles to a gas liquefaction plant in the industrial port of Gladstone, northeast of Brisbane, on the eastern coast of Australia, TotalEnergies highlights on its website.
