Total is planning to invest in new gas and power infrastructure projects in South Africa and Morocco, in line with its plan to open new markets, Reuters stated.
Total’s Head of Gas, Laurent Vivier, said that the French company plans to roughly double its LNG portfolio by 2020 to 15m tons/y, but it needs to look at deals that will give it footholds in new markets and capture new gas buyers, Seeking Alpha informed.
Total is planning to invest in a $3.9b gas-to-power development project in South Africa that will require 1.6m tons/y of gas imports.
Total will take minority stakes in such projects, he said, noting that an average 400 MW combined-cycle power plant costs roughly $300m to build.
Vivier stated “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.”
Total also plans to invest in Morocco by building a $4.6b project, which includes the import of up to 7bcm of gas by 2025, the construction of a jetty, terminal, pipelines and gas-fired power plants with a capacity to produce up to 2,400 MW of electricity.