PARIS, July 13, 2021– (COMMERCIAL THREAD) –
TotalEnergies (Paris: TTE) (LSE: TTE) (NYSE: TTE) has entered into a transaction with GIP Australia (GIP) concerning the downstream facilities of the Gladstone LNG project held by its subsidiary Total GLNG Australia (TGA), for a consideration of over US $ 750 million, effective January 1, 2021.
As part of this transaction, GIP will collect a rate-based toll calculated on the portion of TGA’s gas processed through downstream facilities over a 15-year period.
TGA retains full control and ownership of its 27.5% interest in the Gladstone LNG Downstream joint venture.
“We worked closely with GIP to complete this infrastructure transaction and are pleased with this first collaboration with such an experienced infrastructure partner. This monetization of infrastructure assets helps to further concentrate TotalEnergies’ capital on basic producing assets and fully reflects the active management of the TotalEnergies portfolio. “, said Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.
The Gladstone LNG Project
The integrated LNG project involves producing natural gas from the Fairview, Arcadia, Roma and Scotia fields located in the Bowen-Surat Basin in Queensland, Australia.
The project also includes transporting gas approximately 400 kilometers to a gas liquefaction plant in the industrial port of Gladstone, northeast of Brisbane on the east coast of Australia. The Gladstone LNG Liquefaction Plant consists of two trains with a total rated capacity of over 7.8 million tonnes per year.
The downstream facilities mainly consist of the gas transport system and the two-train gas liquefaction plant. The Gladstone LNG project has been exporting LNG since 2015.
TotalEnergies activities in Australia
For more than 60 years, TotalEnergies has developed a range of activities in Australia covering the spectrum of the energy industry.
TotalEnergies is involved in 2 major Australian LNG projects: Gladstone LNG on Curtis Island, in service since 2015 and Ichthys LNG in Darwin, operational since 2018.
Total Eren (TotalEnergies 30%) has commissioned the 250 MW Kiamal photovoltaic solar power plant, the largest in the state of Victoria. SunPower Corporation (TotalEnergies 57%) focuses on distributed generation in the residential segment and the commercial segment. Total Gas & Power Australia has an electricity retail license and is also developing 100 MW / 100 MWh Energy Storage Scheme (ESS) projects in Victoria. Saft, a wholly-owned subsidiary of TotalEnergies, manages sales of high-tech batteries for the telecommunications, transport and networks, industrial watch, civil electronics and defense divisions. The Marketing and Services branch of TotalEnergies is active in the lubricants market in Australia.
TotalEnergies is a major energy company that produces and markets energy on a global scale: oil and biofuels, natural gas and green gas, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies places sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
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