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

Seatrium Nears Dual FPSO Sailaway for Petrobras' Búzios Field

Strait of Hormuz Shipping Marks Slight Rise

TenneT Completes Drilling, Installation of Protective Conduits for Wind Farms

FPSO for Azule Energy’s Angola Offshore Field Starts Taking Shape in China

Borr Drilling's Mexican JV Expands Fleet with Five Jack-Ups

ADNOC Launches Global LNG Trading Powerhouse

Markets: Oil Majors Reload Exploration Hoppers Across Sub-Saharan Africa

Yinson Production Names FSO for Murphy's Lac Da Vang Project off Vietnam

Saipem to Sell Saudi Shallow-Water Drilling Business to ADES for $285M

Explosion at Qatar's Ras Laffan LNG Hub Injures 54, Leaves 18 Missing

Current News

PTTEP, Petronas Ink 35-Year Malaysia-Thailand Gas Deals

Iran Outlines Terms for Restoring Hormuz Shipping

Technip Energies Nets Engineering Services Job for ADNOC Offshore

Seatrium Nears Dual FPSO Sailaway for Petrobras' Búzios Field

Strait of Hormuz Shipping Marks Slight Rise

China's CNOOC Posts Record First-Half Profit

BP Completes Central Azeri Platform Maintenance, Ramps Up Production

Iran-Oman Talks on Hormuz Reopening Drive Down Oil Prices

Viridien Progresses Hybrid Multi-Client Survey Offshore Malaysia

TGS Extends Work on Indonesia’s Largest Seismic Acquisition Project

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