TotalEnergies Inks Pact with GIP on Gladstone LNG
Gladstone LNG
Marine Press

TotalEnergies Inks Pact with GIP on Gladstone LNG

TotalEnergies has completed a transaction with GIP Australia in relation to the downstream facilities of the Gladstone LNG Project

TotalEnergies has completed a transaction with GIP Australia in relation to the downstream facilities of the Gladstone LNG Project owned by its subsidiary Total GLNG Australia, for a consideration of more than USD 750 million, with effective date January 1, 2021. As part of this transaction, GIP will receive a throughput-based tolling fee calculated on TGA’s share of gas processed through the downstream facilities over a period of 15 years. TGA retains full control and ownership of its 27.5% interest in the Gladstone LNG Downstream Joint Venture.

The Gladstone LNG Project consists of producing natural gas from the Fairview, Arcadia, Roma and Scotia fields, located in the Bowen-Surat Basin in Queensland in Australia. The project also includes transporting the gas over approximately 400 kilometers to a gas liquefaction plant in the industrial port of Gladstone, northeast of Brisbane, on the eastern coast of Australia. The Gladstone LNG liquefaction plant consists of two trains with a total nameplate capacity in excess of 7.8 million tons per year. The downstream facilities mainly comprise the gas transportation system and the two-train gas liquefaction plant. The Gladstone LNG Project has been exporting LNG since 2015.

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