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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Total    FP   FR0000120271

TOTAL (FP)
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Total : To put gas in American trucks

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05/10/2018 | 12:31pm CEST

Less than a month after the buyback of Direct Energie, Total is at it again. The French company reinforces its external growth by attacking a niche market in the natural gas field through the acquisition of a 25% stake in the US firm Clean Energy.


The diversification continues for the French oil conglomerate that now bets on the natural gas market for heavy-duty trucks in the United States. To do so, Total will spend more than 83 million dollars to own a quarter of Clean Energy, and thus become its major shareholder. The latter, a relatively new company, currently operates more than 550 gas stations in North America.

A win-win situation 

On the one hand, Total will now take a step forward on the American continent, while promoting more eco-friendly types of energy thanks to this agreement. Its CEO Patrick Pouyanné insists on the fact that “natural gas can become the fuel of choice”, adding that “Total believes there is a strong development opportunity in natural gas for the transportation market”, especially in the US. This program is fully in line with the group’s strategy: to multiply its natural gas operations in order to reduce greenhouse gas emissions and to expand its activities around the world.
 

Total and its gas activities around the globe (Source : Total website)

On the other hand, Clean Energy, one of the leading providers of natural gas fuel and renewable natural gas (i.e. biomethane) fuel for transportation, benefits from this buyback program as well. The company will receive major financial support for its massive project - a leasing offer for heavy-duty trucks running on natural gas - for which Total will provide guarantees of up to 100 million dollars to Clean Energy.

This project, set to be launched in the third quarter 2018, aims to put thousands of trucks on the road that are equipped with natural gas engines rather than diesel, which is much more polluting. Stakeholders should approve this transaction during the general meeting planned on June 8, the last condition for the investment of the French group to go ahead.
Stocks mentioned in the article
ChangeLast1st jan.
CLEAN ENERGY FUELS CORP -0.35% 2.81 Delayed Quote.38.42%
TOTAL 0.08% 52.4 Real-time Quote.13.80%

Floriane Rousseaux
© MarketScreener.com 2018
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Financials ($)
Sales 2018 209 B
EBIT 2018 21 043 M
Net income 2018 14 003 M
Debt 2018 23 710 M
Yield 2018 5,02%
P/E ratio 2018 11,36
P/E ratio 2019 10,20
EV / Sales 2018 0,87x
EV / Sales 2019 0,83x
Capitalization 159 B
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 69,9 $
Spread / Average Target 17%
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Managers
NameTitle
Patrick Pouyanné Chairman & Chief Executive Officer
Patrick de la Chevardière Chief Financial Officer
Jean-François Minster Senior Vice President-Scientific Development
Marie-Noelle Semeria Group Chief Technology Officer & Senior VP
Patrick Artus Independent Director
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