logo
  

TotalEnergies Sells Its 49% Stake In Russian Termokarstovoye Gas Field To Novatek

Multi-energy company TotalEnergies SE (TTE, TTA.L) announced Friday the sale of its 49% stake in Terneftegas, engaged in developing the Russian Termokarstovoye gas field, to Russian natural gas producer Novatek, which will now own a 100% stake in Terneftegas.

This sale is part of TotalEnergies' publicly shared principles of conduct for its Russian related business.

TotalEnergies reiterated its firmest condemnation of Russia's military aggression against Ukraine and stated that it would ensure strict compliance with current and future European sanctions, no matter what the consequences on the management of its assets in Russia.

TotalEnergies also announced the gradual suspension of its activities in Russia for those which do not contribute to the security of energy supply of Europe. This included assets producing oil (Kharyaga field) and gas for the local Russian market (Termokarstovoye field) as well as other local businesses (lubricants, batteries) which were mothballed in the first half of the year.

In July, TotalEnergies sold its remaining 20% interest in the Kharyaga oil project to Zarubezhneft, and also agreed to sell to Novatek TotalEnergies' 49% interest in Terneftegaz, which operates the Termokarstovoye gas and condensates field in Russia.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Tyson Foods, Inc. (TSN) reported that its first quarter adjusted operating income declined 68% year-over-year. Adjusted operating margin was 3.4%, for the quarter. Both lower revenue and higher COGS in Beef and Pork drove the decrease in adjusted operating margin. The company said market dynamics... Baltimore, Maryland-based Fresh Ideation Food Group LLC is recalling certain sandwiches and other products sold under various brands, citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for ready-to-eat or RTE stuffed chicken product citing that it may not be fully cooked due to underprocessing.
Follow RTT