“Closing is expected in September 2022, subject to customary conditions,” the company said in a statement.
TotalEnergies, which has faced criticism over its various business ties with Russia, said today it will sell its stake in Terneftegaz, a joint venture with Novatek, to the Russian oil and gas company.
“Closing is expected in September 2022, subject to customary conditions,” the company said in a statement.
The French company came under pressure this week over its links with Terneftegaz after Le Monde newspaper reported that the company supplied liquefied gas that was later turned into kerosene used at two Russian military bases.
In a statement issued this afternoon, TotalEnergies said that this divestment had been planned before the controversy arose and that it had sent a request for approval of the deal to the Russian authorities on August 8.
According to Le Monde, the Terneftegaz joint venture was involved in the supply of condensed gas to make jet fuel that may have been used by the Russian military in Ukraine.
TotalEnergies confirmed earlier today that it would jointly produce liquefied gas with Novatek in Russia into jet fuel, but said this was all for export.
Global Witness, which helped Le Monde complete the investigation, said TotalEnergies contradicted its statements and that an investigation should be carried out.
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