* Firm seeks to sell third of 60% stake in Laggan Tormore
* Aims to raise up to $300 mln from sale
By Ron Bousso and Shadia Nasralla
LONDON, Oct 5 (Reuters) - France's TotalEnergies
is seeking to sell a third of its 60% stake in the Laggan
Tormore gas field in the British North Sea, which is expected to
raise around $300 million, six industry and banking sources
said.
The company is hoping the recent rally in natural gas prices
to record highs due to tightening supplies will boost buyer
interest, the sources said.
TotalEnergies declined to comment.
The French oil and gas giant attempted in 2018 https://www.reuters.com/article/us-total-northsea-m-a-exclusive-idUKKBN1JZ12R
to sell a 20% stake in the Laggan Tormore field, which started
production in February 2016 and can produce up to 90,000 barrels
of oil equivalent per day, but the sale fell through.
The field is located in the northwest of the Shetland
Islands region, where several large oil and gas fields have been
developed in recent years. Privately-owned INEOS holds another
20% of the field, and Viaro Energy the remaining 20%.
Most other areas in the ageing UK North Sea have seen
production declines in recent decades.
TotalEnergies, like its European rivals, is in the midst of
a shift towards renewables and low-carbon energy as part of a
strategy to sharply reduce greenhouse gas emissions in the
coming decades.
The company continues to invest in natural gas.
"Gas has a key role in the energy transition. And I would
say what is happening this year is even further reinforcing my
conviction," Chief Executive Patrick Pouyanne told analysts in a
conference call last week.
(Reporting by Ron Bousso and Shadia Nasralla; Editing by Jan
Harvey)