Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and one of the seven supermajor oil companies.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedTotalEnergies is selling its 49 per cent stake in a Siberian gasfield to Russian energy producer Novatek, days after accusations that the asset supplied feedstock for jet fuel suspected to have been used by the Russian military. TotalEnergies lands $9.9 bln profit as it books new Russia charge. France’s TotalEnergies exits Russian gas firm’s board. No longer will provide capital for new projects in Russia/stop purchasing Russian oil; withdraw from Arctic LNG 2 project. Companies from China, Japan and France refused to finance Russia's large LNG project due to sanctions. We are talking about the Chinese CNPC and CNOOC, the Japanese Mitsui and JOGMEC consortium, as well as the French TotalEnergies. Each of them owns 10% of Arctic LNG-2, and 60% belongs to NOVATEK. TotalEnergies has kept all its oil and LNG assets in Russia (but saw they have triggered force majeur on arctic LNG).
Has halted fresh investment in Russia and suspended trade in Russian oil but stopped short of exiting the country, which makes up 24% of its proven reserves and includes a stake in gas producer Novatek. No longer will provide capital for new projects in Russia/stop purchasing Russian oil; No longer enter into or renew contracts for the purchase of Russian oil and petroleum products, to cease all purchases of Russian oil and petroleum products as soon as possible, but no later than the end of 2022. Withdraw from Acrtic LNG 2 project. TotalEnergies to continue shipping Russian LNG as long as no EU sanctions. The new owner will restart the former Total lubricants plant in the Kaluga region. Patrick Pouyanne, the CEO of TotalEnergies, said he did not know whether his company could receive a dividend payment from Novatek, in which the French oil major has a 19.4% stake. French TotalEnergies cannot withdraw $2 billion in dividends from participation in joint projects with NOVATEK from Russia, which it cannot withdraw from Russia, approximately $1.5–2 billion by the end of 2024.