Total shores up LNG market share with Engie asset grab
The French supermajor's acquisition gives it access to 10% of the global LNG market, second only to Shell
Total's acquisition of Engie's liquefied natural gas assets significantly strengthens the French supermajor's gas portfolio. For French utility company Engie, it offers an exit route from its upstream operations and reduces its exposure to energy-price volatility. Total has agreed to acquire all of Engie's upstream LNG assets, for around $1.49bn-$2bn.The final amount will depend on future oil price movements. These include its stakes in the Cameron LNG plant on the Louisiana coast and other liquefaction plants, as well as long-term LNG sales and purchase agreements, an LNG tanker fleet and access to regasification capacities in Europe. The deal, which requires regulatory approval, is expecte
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
