Total Energy of France and Global Infrastructure Partners (GIP) have completed transactions related to the downstream facilities of the Gladstone LNG project in Australia. From January 1, 2021, the transaction is closed due to consideration of more than 750 million U.S. dollars. As part of the agreement, GIP will charge tolls based on throughput.

This will be calculated based on the share of natural gas processed by Total Energy's subsidiary Total GLNG Australia (TGA) through downstream facilities within 15 years. TGA will retain a 27.5% stake in the Gladstone LNG downstream joint venture, which also includes Santos, Petrobras and Cogas. Total Energy Chief Financial Officer Jean-Pierre Sbrell said: We have worked closely with GIP to realize this infrastructure transaction and are pleased to cooperate for the first time with such an experienced infrastructure partner.

This monetization of infrastructure assets helps to further concentrate TotalEnergies' capital on core production assets, and fully reflects Total Energy's active portfolio management. The Gladstone LNG project was commissioned in 2015 and involves the production of natural gas from the Fairview, Arcadia, Rome and Scotland oil fields located in the Bowen-Surat Basin in Queensland, Australia.

Keywords: Foreign Engineering News

The natural gas is delivered to a natural gas liquefaction plant in Gladstone Industrial Port, northeast of Brisbane. The Gladstone LNG liquefaction plant consists of two trains, with a total annual production capacity of more than 7.8 million tons of brand names. Downstream facilities mainly include natural gas transportation systems and dual-track gas liquefaction plants. Editor/XuNing