09 Jun Total looks to gas projects in Morocco and South Africa
Total SA (NYSE:TOT) is aiming to invest in various gas and power projects in Morocco and South Africa, as it seeks to enter new markets.
The French energy major will double its liquified natural gas (LNG) portfolio to 15 million tonnes per year by 2020, hoping to strike deals in new markets to achieve this target.
Morocco has recently submitted plans for a US$4.6 billion LNG project, which includes the construction of a jetty, terminal, pipelines and gas-fired power plants.
Total’s head of gas Laurent Vivier hinted that the firm could invest in the Moroccan project during a recent visit to Copenhagen.
“If we said that we are not interested in power generation, we’d have to say no to these kinds of projects,” said Vivier.
Total is also looking at a similar project in South Africa, according to Vivier. The government has proposed a $3.9 billion gas-to-power development which will require 1.6 million tonnes a year of gas imports.
“As long as it’s an integrated project and we can place our own production of gas in those projects, we are happy to look at this.”