TotalEnergies signed an agreement with NOVATEK for the sale of 49% in the Termokarstovoye field
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The Russian authorities on August 25 gave their consent to the proposed sale to NOVATEK of a 49% stake in Terneftegaz, which is developing the Termokarstovoye gas condensate field. About it informs the seller is the French oil and gas company TotalEnergies. As a result, today, August 26, TotalEnergies and NOVATEK signed the final sale and purchase agreement.
On July 18, 2022, TotalEnergies agreed to sell a 49% stake in Terneftegaz to NOVATEK. In accordance with Russian law, a request for authorization of this transaction was sent to the Russian authorities on August 8, 2022.
“On August 26, 2022, TotalEnergies and NOVATEK signed a definitive sale and purchase agreement for TotalEnergies’ 49% stake in Terneftegaz. Closing is expected in September 2022 under normal conditions.”— informs Total Energy.
The company exits the oil business in Russia due to a military operation.
Read more in the publication “Kommersant” “Total exits Russian oil”.
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