Total eyes growing Asia and China energy market
French energy giant Total takes a large stake in an Australian liquefied natural gas (LNG) project with an eye to growing energy demand from Asia and China
Total has paid $750 million for a 20% stake in Australia's large Gladstone LNG (GLNG) project, in a bid to meet growing Asian demand for energy, while also strengthening its foothold in the industry.
Yves-Louis Darricarrère, president of exploration & production at Total, says in a company statement that the entry into the major project will give the group "further access to the Asian market, [which is] the fastest growing market for gas demand, and in particular LNG, offering high-value prices
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