Press Release: Mergers: Commission clears Angolan liquefied natural gas joint venture by BP, Chevron, Eni, Sonangol and Total

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of joint control over the Angolan company Angola LNG (the joint venture) by BP of the UK, Chevron Global Energy of the US, Eni of Italy, Sociedade Nacional de Combustíveis de Angola (Sonangol) of Angola and Total of France.

The joint venture will be active in the production of liquefied natural gas ("LNG") in Angola and the worldwide supply of LNG. The Commission found that the transaction would not raise competition concerns because of the joint venture's moderate anticipated market share, the presence of a number of credible competitors in the market concerned and competitors’ unchanged ability to access re-gasification terminals.