Clean Energy - Total alliance for LNG in the USA

• 15 Sep 2018

Last July a broad strategic agreement for the development of LNG for transport, as well as CNG and biomethane, was signed between  Clean Energy Fuels Corp., the leading US company in the sector, based in California, and Total , the leading French operator of LNG.

The collaboration agreement was implemented thanking to Total Marketing Services SA, a wholly owned subsidiary of Total SA, that entered in the capital of Clean Energy. The purchase of shares involved 25% of the company's share capital (50.8 million ordinary shares - $ 83.4 million). The shareholders of Clean Energy approved the transaction with 97% of the shares present at the last annual shareholders' meeting; Total may appoint two members on the board of directors.

Clean Energy operates a network of over 550 gas stations covering the entire United States, built in a few years after the "shale gas" revolution (natural gas produced by clayey geological formations). The company has its own natural gas liquefaction facilities in California and Texas.

Thanking to the the collaboration with Total, Clean Energy plans to launch an innovative truck financing program by 2018, eliminating the cost differential between the purchase of a LNG truck and its competitor fuelled by Diesel. The program will also guarantee a discounted price for five years for LNG supplied by Clean Energy, allowing heavy truck fleets to immediately reach the objectives of economic sustainability and operation. Total will provide up to $ 100 million in funding to support the program.