TotalEnergies has completed a transaction with GIP Australia (GIP) in relation to the downstream facilities of the Gladstone LNG Project owned by its subsidiary Total GLNG Australia (TGA), for a consideration of more than US$750 million, with effective date 1 January 2021.
As part of this transaction, 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.
TGA retains full control and ownership of its 27.5% interest in the Gladstone LNG Downstream Joint Venture.
“We have worked closely with GIP to achieve this infrastructure transaction and are happy of this first collaboration with such an experienced infrastructure partner. This monetisation of infrastructure assets contributes to focusing further TotalEnergies’ capital on core producing assets and fully reflects TotalEnergies’ active portfolio management”, declared Jean-Pierre Sbraire, Chief Financial Officer at TotalEnergies.
The Gladstone LNG Project
The integrated LNG project consists of 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 the gas over approximately 400 km to a gas liquefaction plant in the industrial port of Gladstone, northeast of Brisbane, on the eastern coast of Australia. The Gladstone LNG liquefaction plant consists of two trains with a total nameplate capacity in excess of 7.8 million tpy.
The downstream facilities mainly comprise the gas transportation system and the two-train gas liquefaction plant. The Gladstone LNG Project has been exporting LNG since 2015.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14072021/totalenergies-and-gip-enter-gladstone-lng-agreement/