Total ponders sale of TIGF system, storage unit

Total SA entered into exclusive negotiations with a consortium led by Italian group Snam to sell its Transport et Infrastructures Gaz France (TIGF) system for $3.25 billion.

The consortium also includes Singapore’s GIC sovereign wealth fund and French power group EDF.

The proposed sale is subject to information and consultation procedures with the relevant employee representative bodies, Total said.

TIGF provides gas transmission and storage services in southwestern France. It manages a network of about 5,000 km of pipeline.

Snam accounts for 45% of the consortium, GIC 35%, and EDF 20%.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...