TotalEnergies Will no Longer Provide Capital for New Projects in Russia

TotalEnergies will no longer provide capital for new projects in Russia, the company announced in a statement concerning the war in Ukraine.

TotalEnergies condemns Russia’s military aggression against Ukraine, which has tragic consequences for the population and threatens Europe.

TotalEnergies expresses its solidarity with the Ukrainian people who are suffering the consequences and with the Russian people who will also suffer the consequences.

TotalEnergies is mobilized to provide fuel to the Ukrainian authorities and aid to Ukrainian refugees in Europe.

TotalEnergies supports the scope and strength of the sanctions put in place by Europe and will implement them regardless of the consequences (currently being assessed) on its activities in Russia.

 

TotalEnergies in Russia

TotalEnergies has been present in Russia since 1991 with a number of business ventures operating in the segments of Exploration & Production, Marketing & Services and Trading. Throughout the years, TotalEnergies has established strong partnerships with leading Russian companies of the Oil & Gas sector.

In 2011 TotalEnergies became a shareholder of Novatek, Russia’s No 1 private gas producer. Together with Novatek and other partners TotalEnergies is developing a flagship project – Yamal LNG. Exploration and Production branch of TotalEnergies is represented in Russia by a local affiliate – Total E&P Russie.

TotalEnergies has been engaged in crude oil and oil products trading in Russia since 1992. TOTSA (Total Oil Trading) has a permanent office in Moscow.

Marketing & Services is represented by Total Vostok that have been working in Russia for more than 10 years. In 2018 the company built a lubricants blending facility in Kaluga region to localize production and to increase its market share.

In 2016 TotalEnergies acquired SAFT company, which is a world leader in high technology industrial batteries. SAFT is represented in Russia as well.

 

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. Their 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable, and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.