Pouyanne says Anadarko Africa assets at heart of Total’s strategy

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Pouyanne says Anadarko Africa assets at heart of Total’s strategy

5:41 CAT | 29 May 2019

Total Chief Executive Officer Patrick Pouyanne. Picture: Stefan Wermuth, Bloomberg

Total CEO says the deal would strengthen his company’s position as number two in the global LNG segment.

Anadarko’s Africa assets are at the heart of Total’s strategy to remain a leading major in Africa and the global liquefied natural gas (LNG) market, Chief Executive Officer Patrick Pouyanne, told shareholders on Wednesday.

“The deal demonstrates our capacity to be opportunistic and agile,” Pouyanne said during a presentation at the company’s annual shareholders’ meeting in Paris.

“Anadarko assets representing around 3 billion barrels of reserves resources which we’ll acquire for $8.8 billion are plainly at the heart of our growth strategy focused on our strengths. Africa and LNG in Mozambique, Africa and deep offshore in South Africa and Ghana, and in Algeria,” he said.

Pouyanne added that the deal would also strengthen Total’s position as number two in the global LNG segment and that it would have no negative impact on the company’s shareholders return policy.

Source: Reuters