Total in talks with Areva and Suez on nuclear power

[Dow Jones, 2 June] French oil company Total SA has confirmed that it is in discussions with Areva and Suez over possible participation in nuclear energy-related projects. Philippe Boisseau, Total's director general for gas and new energies, told journalists that the company is seeking to partner with the big French stated-owned nuclear engineering group Areva and utilities group Suez, without providing details of specific projects that they may cooperate on. He said that Total is positioning itself in the nuclear market through its competence in managing large projects. Boisseau said the company has the capacity to assume long-term capital intensive projects. Total has already made very small steps to involvement in nuclear - it owns 1% of Areva. Christophe de Margerie, when assuming the position of CEO of Total in early 2007, said that as an energy company, Total will certainly have to be part of the nuclear industry.