French Total Splits Out Integrated Gas Segment

French major Total has recalculated its financial results with effect from January 1 following the creation of a new segment, Integrated Gas, Renewables & Power (IGRP), carved out of its Exploration & Production segment. It also published a list of assets that form IGRP, being a mix of upstream and LNG projects.

Excluded are gas production where the output is processed and injected into a pipeline system for trade and supply purposes, such as its UK and its Norwegian output apart from Snohvit, as that goes to world markets as LNG; but included are its US Barnett shale stakes.

Its two other segments, Refining & Chemicals and Marketing & Services segments are unaffected.

Total said the IGRP segment "spearheads Total’s ambitions in integrated gas – including LNG – and low carbon electricity businesses. It consists of the upstream and midstream LNG activity that was previously reported in the E&P segment and the activity previously reported in the Gas Renewables & Power segment."