While France, and all Western nations, are stepping up their efforts to isolate Russia, they are now “The question of the principle of cooperating with political or economic figures close to Russian power”Estimated, Tuesday 1er In March, Minister of Economy Bruno Le Maire will discuss the activities of the French companies TotalEnergies and Engie in Russia.
With respect to TotalEnergies, the Minister assured Franceinfo that: “Decision” Will be taken “In the next few days” In a group.Following his interview, the French energy giant he said “Don’t bring me[ait] More capital for new Russian projects »However, he has not withdrawn from the project he is currently investing in.
The group generates 3% to 5% of total revenue in Russia, announced a few days ago by Chairman and CEO Patrick Pouyanné. TotalEnergies is a 19.4% shareholder of Russian gas giant Novatek and has a 20% stake in Yamal LNG, a project that began in late 2017 and produced more than 18 million tons of liquefied natural gas (LNG) in 2020. I have it.
The group also holds a 10% stake in Arctic LNG 2, a project scheduled for the first LNG supply in 2023. In Russia, TotalEnergies is ultimately involved in another LNG project consisting of three in the northern part of the country by up to 10%. “Train” -all units of the plant that provide gas treatment and liquefaction-the first one should be supplied to the international market in 2023.
Shell and BP have already left Russia
The group said “We support the scope and strength of the sanctions enforced by Europe and implement them regardless of the outcome. [en cours d’évaluation] Asset management in Russia »..TotalEnergies “Condemn military aggression” Russian announcement “Mobilize to fuel Ukrainian authorities and support Ukrainian refugees in Europe”.. According to the 2020 registration document, Russia accounted for 16.6% of TotalEnergies’ annual liquid and natural gas production.
Other oil majors such as British Shell and BP have already announced that they will withdraw from the project in Russia. On Monday, Shell announced a separation from shares in several joint projects with Russian giant Gazprom. He holds 19.75%.Before the announcement of the group, Mr. Le Mer was Mr. Puyanne. ” and[vait] A keen awareness of the seriousness of the situation “..
In addition, regarding Engie, a partner of the Nord Stream 2 gas pipeline whose test run has been suspended by Germany, the minister said that this subject was “Slightly different”French group invested in the project “Preparation”.. After Le Maire’s remarks, the group’s share fell by more than 4% on Tuesday. The title Engie fell by exactly 4.19% to € 13.67 at 9:40 am after losing to 5%, while TotalEnergies fell 0.67% to € 45.27.
While pressure has been placed on the major western oil and gas groups in Russia since the start of Russia’s offensive in Ukraine, the country has earned most of its income from the development of its energy resources.