Total S.A.
26 April 2006
Total Sells Interests in Gaz de Strasbourg and Gaz de Bordeaux
Paris - April 26, 2006 - Total has signed two agreements to sell to Caisse des
Depots et Consignations its 25% interest in Gaz de Strasbourg and its 16%
interest in La Societe du Gaz de Bordeaux, two local distribution companies that
serve manufacturers and consumers in the municipalities of Strasbourg and
Bordeaux. Finalisation of these transactions is subject to the exercise of any
applicable approval and pre-emptive rights.
Total produces, transports and markets natural gas, both on a wholesale basis
and directly to industrial and commercial customers. Following the separation
of Total and Gaz de France's cross-shareholdings in their joint transmission and
marketing subsidiaries, the sale of these assets, which are not strategic to
Total's local gas operations, further clarifies and aligns the Group's positions
in France, where it is a key operator.
Total's French transmission and storage operations are now consolidated in a
Total subsidiary 'Total Infrastructures Gaz France' (TIGF), which operates a
4,905 kilometre network of pipelines and two underground storage facilities with
a combined capacity of 2.4 billion cubic metres, representing around 22% of
total French capacity. In 2005, Total sold 7.4 billion, cubic metres of gas in
France through its newly established subsidiary, Total Energie Gaz (TEGAZ).
Total is the fourth largest oil and gas company in the world with operations in
more than 130 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals.
Total has more than 111,000 employees worldwide. More information can be found
on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
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