Arab Today, arab today total sells north sea gas assets worth over 900m
Last Updated : GMT 22:32:15
Arab Today, arab today
Arab Today, arab today

Total sells North Sea gas assets worth over $900m

Arab Today, arab today

Arab Today, arab today Total sells North Sea gas assets worth over $900m

French oil giant Total
Paris - AFP

French oil giant Total announced Thursday it had agreed to sell a North Sea gas terminal and two pipelines in a deal worth over $900 million in a move to help offset falling oil prices.

Total said Britain's North Sea Midstream Partners had agreed to buy the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal in Scotland for £585 million ($905 million, 800 million euros).

The sale is part of Total's effort to sell $10 billion worth of assets between 2015 and 2017, along with reducing new investment and cutting production costs, to compensate for sagging income as oil prices have dropped to their lowest levels since 2009.

The deal announced Thursday follows on the heels of Total's sale last month of stakes in three North Sea gas fields for $873 million, and brings total divestments for the year to $3.5 billion.

"The sale of these midstream transportation assets is another example of Total's strategy of active portfolio management and the strong potential to unlock value from a range of infrastructure assets," Total's chief financial officer Patrick de La Chevardiere said in a statement.

"Transferring ownership to an entity specialising in midstream UK assets creates value for us and ensures a long and bright future for the facilities."

In recent months, Total has also sold stakes in a refinery in Germany for $300 million and its South Africa coal affiliate for $372 million.

Despite Thursday's sale, Total stressed it remained committed to gas exploration and extraction, including North Sea fields.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today total sells north sea gas assets worth over 900m Arab Today, arab today total sells north sea gas assets worth over 900m

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today total sells north sea gas assets worth over 900m Arab Today, arab today total sells north sea gas assets worth over 900m

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday