Mexico: Total Closes Its Participation in the E...
Mexico: Total Closes Its Participation in the Energía Costa Azul LNG Export Project
Total
Total (Paris:FP) (LSE:TTA) (NYSE:TOT), Sempra LNG and IEnova have signed binding agreements finalizing Total’s equity investment in the Energía Costa Azul liquefied natural gas export project (ECA LNG), located in Baja California, Mexico.
Total now holds a 16.6% equity share of the project, for which the final investment decision was taken last November for the development, construction and operation of a single-train liquefaction facility with a nameplate capacity of 3.25 million tonnes per annum (Mtpa) of LNG and an expected start in 2024. Last April, Total also closed a twenty-year offtake agreement for 1.7 Mtpa of LNG.
“We are very pleased to further strengthen our partnership with Sempra Energy through our participation in the ECA LNG project, that benefits from brownfield synergies with existing facilities and from the proximity to Asian markets,” said Philippe Sauquet, President Gas, Renewables & Power at Total. “This investment is in line with our strategy to grow our LNG integrated portfolio across the entire gas value chain, which is a key to meet a growing global demand for energy while decreasing the carbon intensity of the products sold to our customers.”
ECA LNG is owned by Sempra LNG (41.7%), IEnova, Sempra Energy's subsidiary in Mexico (41.7%), and Total (16.6%).
Total, Second Largest Private Global LNG Player
Total is the world's second largest privately owned LNG player, with a global portfolio of nearly 50 Mtpa by 2025 and a global market share of around 10%.
The Group benefits from strong and diversified positions throughout the LNG value chain: gas production and liquefaction, LNG transportation and trading, and contribution to the development of the LNG industry for maritime transport.
Through its interests in liquefaction plants in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the United States, Australia and Angola, the Group markets LNG on all world markets.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Total
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