Total sells $1.6-bln Ichthys stake
Australia The closing of the deal, subject to regulatory approval, will reduce Total’s stake in the project to 26%, the company statement added.
“Ichthys is part of a wave of Australian LNG projects, which have unfortunately experienced major cost overruns and delays during their construction phase,” Arnaud Breuillac, Total’s president for E&P, said. “In line with our capital discipline policy, we have therefore decided to control our capital employed in Ichthys by monetizing a 4% stake after the project start-up and de-risking.”
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