Total sells North Sea midstream assets for £585 million

Total has signed an agreement to sell all of its interests in the FUKA and SIRGE gas pipelines and the St. Fergus Gas Terminal to North Sea Midstream Partners for £585 million (around $905 million), subject to the customary approvals. “The sale of these midstream transportation assets is another example of Total’s strategy of active portfolio management and the strong potential to unlock value from a range of infrastructure assets,” said Patrick de La Chevardière, Chief Financial Officer at Total.