TotalEnergies announces the sale of its stake in a Russian gas field to its partner Novatek
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The French group TotalEnergies announced on Friday August 26 that it had reached an agreement with its Russian partner Novatek to sell it its 49% stake in the company Terneftegaz, which operates the Termokarstovoye gas field in Russia.
This is the gas field which investigated The world based on several documents and an investigation by the NGO Global Witness. This deposit supplied gas condensate to a Russian refinery, which made it into kerosene, which was able to supply Russian planes engaged in the conflict in Ukraine.
TotalEnergies denied the information of the World, also maintaining that the steps to sell this joint venture had begun several weeks ago. TotalEnergies says it agreed on July 18 with Novatek (which it also owns 19.4%) to sell its 49% stake in Terneftegaz to it, and this, “under economic conditions allowing TotalEnergies to recover the amounts invested in this field”can we read in the press release of the multinational, which does not give figures. Novatek has confirmed that it now owns 100% of this field.
“Extremely serious” subject for Clément Beaune
The Russian authorities were seized, on August 8, of a request for authorization of this transaction; they gave their agreement on August 25, and TotalEnergies and Novatek thus signed the definitive sale agreement on Friday.
The oil giant adds that this sale falls under its “principles of action” set as of March for its activities in connection with Russia. After the invasion of Ukraine by Russia, TotalEnergies announced in particular that it would no longer invest in new projects in Russia, but it maintains activities there, mainly concentrated around liquefied gas from the Yamal LNG company.
TotalEnergies, which asserts “not to produce kerosene for the Russian army”, has been under pressure since the publication of the investigation of the World. Friday morning, the group published elements from Novatek ensuring that this fuel was in no way intended to supply Russian warplanes.
The Minister Delegate for Transport, Clément Beaune, had called on Thursday to ” turn on the light “ on the accusations against TotalEnergies, assuring that it was a “extremely serious matter”.
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