Total and EDF announced that they have decided to enter into an agreement with two buyers to sell their stakes in the Dunkerque LNG, owner and operator of Dunkerque LNG terminal in France.
At the completion of the transactions, the buyers which are a consortium composed by Fluxys (which already hold 25% of Dunkerque LNG), AXA Investment Managers- Real Assets and Credit Agricole Assurances on one hand and another a consortium of Korean investors composed of Samsung Securities Co., IBK Securities Co. and Hanwha Investment & Securities Co. on the other hand, will hold a 35.76% and 39.24% respectively, Total said in its statement.
EDF has remarked that its board of directors approved the transaction and “the final documentation shall be signed in the coming days and closing is expected for the second half of 2018, once required regulatory approvals have been granted by the French authorities.”
Total added that it will keep a regasification capacity right of around 1.5 MMT/Y at the terminal and EDF, as a client of Dunkerque LNG, has said that it “remains engaged in the long term with the terminal, which will continue serving its gas strategy.”
EDF had previously announced that it offered up to 3 BCM/Y of regasification capacity at the Dunkirk terminal for 18 years from January 2019 as the remaining 10 BCM/Y capacity has already been booked by other shippers.
According to the Global LNG Info's Database , current Dunkirk LNG Co.'s shareholders are EDF 65.01%, Fluxys 25% and Total 9.99%. “The Dunkirk terminal, which is exempted from the EU's third-party access requirement, is one of Continental Europe's largest LNG terminals. The facility's regasification unit made up of 10 heat exchangers, supplied with tepid water by the neighbouring nuclear power plant in Gravelines with an underwater tunnel 5-Km long.”

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