REG-TotalEnergies SE Russia: TotalEnergies Records a 4.1 B$ Impairment in Its Q1 2022 Accounts

TotalEnergies SEAnnouncement

28/04/2022 07:00

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Russia: TotalEnergies Records a 4.1 B$ Impairment in Its Q1 2022 Accounts

 

On March 22, 2022, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announced
that, given the uncertainty created by the technological and financial
sanctions on the ability to carry out the Arctic LNG 2 project currently under
construction and their probable tightening with the worsening conflict,
TotalEnergies SE had decided to no longer book proved reserves for the Arctic
LNG 2 project.

Since then, on April 8(th), new sanctions have effectively been adopted by the
European authorities, notably prohibiting export from European Union countries
of goods and technology for use in the liquefaction of natural gas benefitting
a Russian company. It appears that these new prohibitions constitute
additional risks on the execution of the Arctic LNG 2 project.

As a result, TotalEnergies has decided to record in its accounts, as of March
31, 2022, an impairment of 4.1 B$, concerning notably Arctic LNG 2.

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 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

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
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. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies 

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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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