REG-TotalEnergies SE Russia: TotalEnergies Continues to Implement Its Principles of Conduct and Sells Its 49% Interest in the Russian Termokarstovoye Gas Field to Novatek

TotalEnergies SEAnnouncement

26/08/2022 15:00

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Russia: TotalEnergies Continues to Implement Its Principles of Conduct and
Sells Its 49% Interest in the Russian Termokarstovoye Gas Field to Novatek

 

On March 22, 2022, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) publicly
shared its principles of conduct
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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 thus restated its duty to contribute toward securing Europe’s
gas supply from the Yamal LNG plant within the framework of long-term
contracts that it must honor as long as Europe's governments do not take
sanctions on Russian gas. 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.

On July 6, 2022, in line with these principles, TotalEnergies announced the
sale of its remaining 20% interest in the Kharyaga oil project to
Zarubezhneft. This transfer was finalized on August 3, 2022.

On July 18, 2022, TotalEnergies agreed to sell to Novatek TotalEnergies' 49%
interest in Terneftegaz, which operates the Termokarstovoye gas and
condensates field in Russia, on economic terms enabling TotalEnergies to
recover the outstanding amounts invested in the field.

Pursuant to Russian regulations, a request to authorize this transaction was
addressed to the Russian authorities on August 8, 2022. On August 25, 2022,
Russian authorities issued their agreement to the proposed sale. As a result,
on August 26, 2022, TotalEnergies and Novatek signed the final sale and
purchase agreement of TotalEnergies’ 49% interest in Terneftegaz. Closing is
expected in September 2022, subject to customary conditions.

***

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. Our more than 100,000 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.

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Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TotalEnergies SE directly or
indirectly owns investments are separate legal entities. TotalEnergies SE has
no liability for their acts or omissions. The terms “Company” or
“TotalEnergies company” refer collectively to the company TotalEnergies SE
and the companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present communication.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them. This document may
contain forward-looking information and statements that are based on a number
of economic data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TotalEnergies SE nor any of its
subsidiaries assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this document
whether as a result of new information, future events or otherwise.

TotalEnergies 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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