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French supermajor, Total today completed the acquisition of electric utility company, Engie’s upstream LNG business, in a deal amounting to $1.5 billion. The deal will increase Total’s overall LNG portfolio to around 40 million tonnes per year by 2020, with a 16.6% interest in Engie’s Cameron LNG project. This acquisition has made Total the second-largest player in the global LNG market.
