LNG

Mar 30 (LNGJ) - French energy company Total, a shareholder in the Nigerian LNG production company on Bonny Island since its 1999 start-up, is continuing to offload other energy stakes in the West African nation. It has just sold onshore leases to a local company, Aiteo Eastern, for $569 million following earlier block sales for over $1 billion. Total has divested its interests in 11 onshore blocks to Nigerian companies in line with the government's aim of developing Nigerian companies in the sector. "These transactions reduce our exposure to non-operated blocks onshore Nigeria, and allow us to focus on our core, operated developments," said Patrick de La Chevardiere, Chief Financial Officer at Total. These include the Egina project located 200 kilometers offshore Port Harcourt.