On Thursday, 12 April 2018, ENGIE and TOTAL signed the Sale and Purchase Agreement (SPA) according to which TOTAL will acquire ENGIE’s upstream LNG activities.

Following this announcement, an information and consultation process was launched with the representative bodies of ENGIE personnel and completed on 4 April 2018, with notification of the opinion of the European Works Council. All the competition authority authorizations required for this operation have also been obtained.

The signature of the final agreement between the two groups is now possible, and the process of transferring the activity can be implemented.

The teams in charge of the project in the Global LNG BU, Corporate and GBS have done a remarkable job so far. They are now working hard to finalize the legal, commercial and operational aspects of the transaction, including the subsidiarization of the activity and the relocation of the teams.

The divestiture of the activity to TOTAL will take place after obtaining the consent of the main counterparties on the transfer of their contracts.