EDF sells minority equity stakes to Fluxys and Total in Dunkerque to develop largest new LNG terminal in Europe

Client(s) Electricité de France S.A.

Jones Day has advised the EDF group on the opening of the share capital of Dunkerque LNG, a subsidiary of the EDF group dedicated to the construction and future ownership of the LNG terminal of Dunkerque, one of the largest LNG terminals in Europe with an annual regasification capacity of 13 billion m3.

As a result of the transaction, the share capital of Dunkerque LNG is now held by the EDF group via its subsidiary EDF Environnement Développement (65%), the Fluxys group, which is the operator of the Belgian gas network (25%) and the Total group (10%). The shareholders will share the €1 billion construction costs of the LNG terminal.