Total to sell a 30% stake in Trapil pipeline to Pisto for $290m.

Total, a major energy player that produces and markets fuels, natural gas and low-carbon electricity, agreed to sell a 30% stake in Trapil pipeline to Pisto, a leading independent crude oil and refined product storage operator, for $290m. “The sale of Total’s interest in this infrastructure reflects its active portfolio management strategy. Rather than own infrastructure assets, the Group’s aim is to hold contracts to use such infrastructure when needed to manage its industrial assets. This sale will help us achieve our target of divesting $5bn in assets over the period 2019-2020,” commented Jean-Pierre Sbraire, Chief Financial Officer of Total.