EDF Sells Stake Dunkirk LNG Terminal

Laxman Pai
Sunday, November 4, 2018

European electric utility company Électricité de France (EDF) group has sold its stake in the Dunkirk  liquefied natural gas (LNG) terminal, after obtained the requisite regulatory approvals.

According to a press release from the  integrated energy company the modalities set out in the press release published on 29 June remain unchanged, the transaction having been made on the basis of an average enterprise value of EUR2.4 billion for the Dunkerque LNG company.

The disposal will contribute to the reduction of the EDF Group’s net financial debt, by EUR1.5 billion.

With the transaction, the Group has now realised EUR9.6 billion of its targeted EUR10 billion asset disposal plan. The objective of finalising the plan by the end of 2018 is confirmed.

A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services.

A global leader in low-carbon energies, the Group has developed a diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy.

The Group is involved in supplying energy and services to approximately 35.1 million customers, of which 26.5 million in France. The Group generated consolidated sales of €70 billion in 2017. EDF is listed on the Paris Stock Exchange.

Categories: LNG Legal Mergers & Acquisitions

Related Stories

Oil Edges Higher as Uncertainty Clouds US-Iran Truce

Oil Drops to 3-Month Low as US-Iran Deal Signals Supply Return

JERA Takes Delivery of First LNG Cargo from Australia's Barossa Gas Project

Inpex’s Ichthys LNG Strike Persists as Fair Work Hearing Gets Postponed

ADNOC Looks to Canada for Upstream and LNG Growth Through XRG

Ichthys LNG Strike Intensifies as Union Talks with Inpex Collapse

SBM Offshore to Sell 45% Stake in Mexico-Bound FSO to NYK

Vantage Drilling Agrees to $258M Takeover by Eldorado Drilling

BP to Boost Azerbaijan Portfolio with Babek Gas Field Operatorship Takeover

Eni Inks Long-Term Indonesia LNG Supply Agreements

Current News

Valeura Concludes Nong Yao Drilling Ops, Boosts Gulf of Thailand Production

Oil Edges Higher as Uncertainty Clouds US-Iran Truce

Aramco Explores Asset Sales in Multi-Billion Dollar Fundraising Push

Post-War Gulf Faces Push for Alternative Export Routes

Oil Drops to 3-Month Low as US-Iran Deal Signals Supply Return

RINA Gets Safety Assessment Role on Indonesia's H2WATT Hydrogen Hub

IEA Expects Gradual Hormuz Recovery, Oversupplied Market in 2027

Inpex, Unions Reach Deal to End Ichthys LNG Strike

Gulf Marine Services Restarts Ops of Evacuated Gulf Vessels

Japan’s Shipping Industry Awaits Clarifications on Hormuz Reopening

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com