Total has entered into an agreement for the sale of its remaining stake in GTT (Gaztransport and Technigaz) to Temasek.
The sale, which was netted the French company more than $650million, follows an initial transaction in February this year.
The company said it initially reduced its shareholding from 30% to 10.4%.
Yves-Louis Darricarrère, president of gas and power at Total, said: “With this transaction, Total continues to unlock significant value from its portfolio and to focus on its strategic assets.
“Already a market leader, GTT is well positioned to benefit from the expected growth of the LNG sector.
“By taking an equity stake in GTT, Temasek demonstrates its confidence in the company’s long-term potential and in the industry.”
Temasek is an investment company based in Singapore with a $177billion portfolio.
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