Elengy Acquires Total’s Shares in Fosmax LNG

Source Press Release
Company ENGIETotal 
Tags Corporate Deals, Deals, LNG & Gas Storage/Processing
Date February 06, 2020

Elengy has just acquired Total’s shares in Fosmax LNG, the company that owns the liquefied natural gas (LNG) terminal at Fos Cavaou. Elengy now owns 100% of its three LNG terminals: Fos Cavaou, Fos Tonkin and Montoir-de-Bretagne. Until now Fosmax LNG was owned 72.5% by Elengy and 27.5% by Total Gaz Electricité Holding France (TGEHF).

The acquisition of the shares is financed mainly by an increase in Elengy’s capital reserved for the Société d’Infrastructures Gazières (SIG). The SIG now owns close to 18% of Elengy’s capital, with the balance being held by GRTgaz.

For Elengy, the European leader in LNG terminals, and for its shareholders, this acquisition reflects the ambition to increase the industrial development of its sites at Fos-sur-Mer: Fos Cavaou and Fos Tonkin, at a time when LNG enjoys a new boom to support ecological transition.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd