France’s TotalEnergies and Global Infrastructure Partners (GIP) have closed a transaction pertaining to the downstream facilities of the Gladstone LNG project in Australia.

Effective from 1 January 2021, the deal was closed for a consideration of more than $750m.

GIP will receive a throughput-based tolling fee as part of the agreement.

This will be calculated on TotalEnergies subsidiary Total GLNG Australia’s (TGA) share of gas that is processed through the downstream facilities over a 15-year period.

TGA will retain an ownership stake of 27.5% in the Gladstone LNG downstream joint venture, which also includes Santos, Petronas, and KOGAS.

TotalEnergies CFO Jean-Pierre Sbraire said: “We have worked closely with GIP to achieve this infrastructure transaction and are happy (with) this first collaboration with such an experienced infrastructure partner.

“This monetisation of infrastructure assets contributes to focusing further TotalEnergies’ capital on core producing assets and fully reflects TotalEnergies’ active portfolio management.”

Commissioned in 2015, the Gladstone LNG Project involves producing natural gas from the Fairview, Arcadia, Roma, and Scotia fields, located in the Bowen-Surat Basin in Queensland, Australia.

The gas is transported to a gas liquefaction plant in the industrial port of Gladstone, northeast of Brisbane.

Comprising two trains, the Gladstone LNG liquefaction plant has a total nameplate capacity of more than 7.8 million tons per year.

Downstream facilities mainly include the gas transportation system and the two-train gas liquefaction plant.

Last year, KBR secured a contract for energy efficiency opportunities study at the Gladstone LNG project.

The contract involved identifying and screening potential modifications to enhance the operational facility by improving thermal efficiency.