26th Apr 2006 11:20
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 desDepots et Consignations its 25% interest in Gaz de Strasbourg and its 16%interest in La Societe du Gaz de Bordeaux, two local distribution companies thatserve manufacturers and consumers in the municipalities of Strasbourg andBordeaux. Finalisation of these transactions is subject to the exercise of anyapplicable approval and pre-emptive rights. Total produces, transports and markets natural gas, both on a wholesale basisand directly to industrial and commercial customers. Following the separationof Total and Gaz de France's cross-shareholdings in their joint transmission andmarketing subsidiaries, the sale of these assets, which are not strategic toTotal's local gas operations, further clarifies and aligns the Group's positionsin France, where it is a key operator. Total's French transmission and storage operations are now consolidated in aTotal subsidiary "Total Infrastructures Gaz France" (TIGF), which operates a4,905 kilometre network of pipelines and two underground storage facilities witha combined capacity of 2.4 billion cubic metres, representing around 22% oftotal French capacity. In 2005, Total sold 7.4 billion, cubic metres of gas inFrance through its newly established subsidiary, Total Energie Gaz (TEGAZ). Total is the fourth largest oil and gas company in the world with operations inmore than 130 countries. Total's activities cover the whole energy chain of thepetroleum 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 foundon the company's website: www.total.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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