REG-TOTAL Mexico: Total Closes Its Participation in the Energía Costa Azul LNG Export Project

TotalEnergies SEAnnouncement

10/12/2020 07:30

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Mexico: Total Closes Its Participation in the Energía Costa Azul LNG Export
Project

 

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.

* * * * *

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 

Media Relations: +33 1 47 44 46 99 l presse@total.com
(mailto:presse@total.com) l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com (mailto:ir@total.com)



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