Total acquired the LNG portfolio of Toshiba for $15m.

Total, a French multinational integrated oil and gas company, acquired the LNG portfolio of Toshiba, a Japanese multinational conglomerate, for $15m. “The takeover of Toshiba’s LNG portfolio is in line with Total’s strategy to become a major LNG portfolio player. Adding 2.2 Mtpa of LNG to our existing positions in the US, in particular Cameron LNG, will enable optimizations of the supply and operations of these LNG sources,” commented Philippe Sauquet, President Gas, Renewables and Power at Total. “Already an integrated player in the US gas market, Total is set to become one of the leading US LNG exporters by 2020 with a 7 Mtpa portfolio”.