REG-TOTAL Myanmar: TOTAL: Shareholders of Moattama Gas Transportation Company Limited Vote to Suspend All Cash Distributions

TotalEnergies SEAnnouncement

26/05/2021 16:10

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Myanmar: TOTAL: Shareholders of Moattama Gas Transportation Company Limited
Vote to Suspend All Cash Distributions

 

In light of the unstable context in Myanmar, following a joint proposal by
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and Chevron at the occasion of a
shareholders’ meeting of MGTC (Moattama Gas Transportation Company Limited)
held on 12(th) May 2021, cash distributions to the shareholders of the company
have been suspended.

The decision to suspend is effective from 1(st) April 2021 and all cash
distributions by MGTC to its shareholders (Total (31.24%), Chevron (28.26%),
PTTEP (25.5%) and MOGE (15%)) are suspended.

MGTC gas transportation system carries the gas produced from the Yadana field
operated by Total Exploration & Production Myanmar to the Myanmar/Thailand
border over a distance of 400 kilometers.

Total continues to act as a responsible operator of the Yadana field,
maintaining the production of gas in accordance with applicable laws, so as
not to disrupt the electricity supply that is vital to the local populations
of Myanmar and Thailand.

Total condemns the violence and human rights abuses occurring in Myanmar and
reaffirms that it will comply with any decision that may be taken by the
relevant international and national authorities, including applicable
sanctions issued by the EU or the US authorities.

About Total

Total is a broad energy company that produces and markets fuels, natural gas
and electricity. Our 100,000 employees are committed to better energy that is
more affordable, more reliable, cleaner and accessible to as many people as
possible. Active in more than 130 countries, our ambition is to become the
responsible energy major.

Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TOTAL SE directly or
indirectly owns investments are separate legal entities. TOTAL SE has no
liability for their acts or omissions. In this document, the terms
“Total,” “Total Group” and Group are sometimes used for convenience.
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 TOTAL 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.

Total 

Media Relations: +33 1 47 44 46 99 l presse@total.com
(mailto:presse@total.com) l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com (mailto:ir@total.com)

 



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