GIC Private Limited Part of Consortium that Acquires Total’s Gas Transport and Storage Unit
On July 30, 2013, Singapore’s GIC was part of a consortium to acquire Transport et Infrastructures Gaz France (TIGF) which is Total’s gas transportation and storage business for an enterprise value of €2.4 billion (US$ 3.25 billion). The consortium includes Snam (45%) an Italian gas storage and transport operator, Singapore’s GIC (35%) and EDF (20%). Exclusive negotiations began on February 5, 2013 between Total and the consortium.
A strategic platform connecting European gas markets, TIGF manages a network of nearly 5,000 kilometers of pipeline – carrying 13% of the total volume of gas transported to France. Over the years, the gas pipeline network grew rapidly from the Atlantic Ocean to the Mediterranean coast. TIGF manages two key gas storage sites in Lussagnet and Izaute. The network is operated from a control center located in Pau.Tweet
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