The approval clears the way for the five firms to enter into a joint venture to acquire Angola LNG.
Angola LNG will produce liquefied natural gas (LNG) in Angola, to be sold to customers around the world for re-gasification.
Through the venture, the companies would transport natural gas, derived as a by-product of oil production, through pipelines to liquefaction plant in Angola, for its transformation into LNG.
The Commission said the transaction would not raise competition concerns because of the joint venture’s moderate anticipated market share and the presence of several credible competitors in the market, who have the ability to access re-gasification terminals.
European Union noted although three of the parent companies namely Total, Eni and BP have capacity rights in re-gasification terminals in the European Economic Area (EEA), they will not be able to shut out third parties from accessing them under the EU law which ensures third party access to gas import infrastructures, including re-gasification terminals.
The Commission therefore concluded that the creation of the joint venture does not impede effective competition in the EEA or any substantial part of it.
