French major Total is looking for acquisition opportunities in Australia, to add to its existing minority stakes in the Ichthys LNG project in Darwin and Gladstone LNG project on the east coast, the Australian Financial Review reported Monday.
Total currently owns 24% of the $34 billion Ichthys LNG project, which was given the go-ahead by the company and operator Inpex on Friday, but is in talks with its Japanese partner to lift its ownership slightly. Ichthys will produce 8.4 million mt/year of LNG from 2017.
Total also holds 27.5% of the Santos-led Gladstone LNG project, which will produce 7.8 million mt/year from 2015. The $16 billion GLNG project will produce LNG from coalseam gas fields in the state of Queensland.
"There is no limitation for Total to invest more in Australia," the company's exploration and production senior vice president for Asia Pacific Jean-Marie Guillermou told the local business daily in an interview.
Guillermou attended Friday's ceremony announcing the go-ahead for Ichthys.
"Australia is a core asset and is part of our future. If tomorrow we have the opportunity to find another Ichthys, we have the money to invest and develop it alone," he added.
Guillermou told the newspaper that Total would like to develop its first floating LNG project in Australia, which looks set to host the world's first such facility at Shell's Prelude field. The company is also interested in Australia's emerging shale gas sector in the onshore Cooper Basin, where infrastructure exists to potentially supply to Gladstone.
