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

Pakistan Greenlights TPOC-Led Offshore Exploration in Block-C

Seatrium Maintains $12.8B Order Book on Renewables and FPSO Progress

Malaysia Issues First Offshore CCS Permit to Petronas Subsidiary

Sponsored: Record Deals and Record Attendance Underscore ADIPEC’s Global Impact

TotalEnergies Inks 10-Year LNG Supply Deal with South Korea’s KOGAS

Japan Picks Wood Mackenzie to Assess Trump-Backed Alaska LNG Scheme

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

CNOOC Finds Oil and Gas in South China Sea

Current News

Blackford Dolphin Semi-Sub to Keep Drilling Offshore India

Aramco Expands US Partnerships with $30B in New Deals

Pakistan Greenlights TPOC-Led Offshore Exploration in Block-C

TechnipFMC to Supply Subsea Systems for Eni’s Maha Deepwater Project

SED Energy’s GHTH Rig Kicks Off Ops for PTTEP

MODEC Forms Dedicated Mooring Solutions Unit

Seatrium Maintains $12.8B Order Book on Renewables and FPSO Progress

Petrobras’ New FPSO Sets Sail From South Korea to Brazil's Santos Basin

Eneos Warns on Skyrocketing Costs fo Offshore Wind

Mooreast to Assess Feasibility of Floating Renewables Push in Timor-Leste

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