Total ponders sale of TIGF system, storage unit

Total SA entered into exclusive negotiations with a consortium led by Italian group Snam to sell its Transport et Infrastructures Gaz France (TIGF) system for $3.25 billion.

The consortium also includes Singapore’s GIC sovereign wealth fund and French power group EDF.

The proposed sale is subject to information and consultation procedures with the relevant employee representative bodies, Total said.

TIGF provides gas transmission and storage services in southwestern France. It manages a network of about 5,000 km of pipeline.

Snam accounts for 45% of the consortium, GIC 35%, and EDF 20%.

Related Articles

WINTER HITS U.S. INDUSTRY, STRAINS GAS SUPPLY

01/01/1990 A record breaking cold front before and during the weekend of Dec. 23 shut down several major refineries and petrochemical plants in the U.S. Gulf ...

TEX/CON, SPUN OFF FROM BP, UP AND RUNNING

01/01/1990 BP Exploration Western Hemisphere has spun off its U.S. Lower 48 onshore exploration/development and gas gathering, transportation, and marketing a...

SAMEDAN BUYS GULF OF MEXICO PRODUCTION

01/01/1990 Samedan Oil Corp. has expanded its inventory of producing leases in the Gulf of Mexico. The wholly owned subsidiary of Noble Affiliates Inc., Ardmo...

OIL FLOW RISING IN E. CHINA REGION

01/01/1990 Production is building from an oil producing area in the lower reaches of the Yangtze River in eastern China's Jiangsu Province. The northern J...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected