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Total takes piece of Gladstone pie

Total takes piece of Gladstone pie

Allens Arthur Robinson has acted for Total S.A. (Total), the fifth-largest oil company in the world, on its acquisition of a 20 per cent interest in the Gladstone LNG project.Total has signed an…

Allens Arthur Robinson has acted for Total S.A. (Total), the fifth-largest oil company in the world, on its acquisition of a 20 per cent interest in the Gladstone LNG project.

Total has signed an agreement to acquire a 20 per cent interest in the proposed Santos Gladstone Liquefied Natural Gas (LNG) project in Queensland, for the purchase price of $US750 million ($781 million).

The transaction is Total's first major investment in an LNG project using unconventional gas - in this case coal seam gas.

Allens, headed by partners Gavin MacLaren and Igor Bogdanich, advised Total for almost six months and brought together a large team from five offices and experts from energy & resources, competition, environment & planning, tax and property.

"In recent times, we have worked on a number of significant LNG projects, including in Indonesia,

Papua New Guinea and Australia," said MacLaren.

"The investment in this sector shows no sign of slowing down and the complexity and scope of these transactions makes them interesting projects for our lawyers to work on."

Freehills and Vince & Elkins acted for Santos.

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