French giant TotalEnergies announced on Friday that it had agreed with its Russian partner Novatek to sell its 49% stake in the Terneftegaz company, which operates the Termokarstovoye gas field in Russia.
This is the gas field questioned by the French newspaper Le Monde, which is based on several documents and an investigation by the NGO Global Witness. This Russian gas field is accused of having supplied condensate gas to a Russian refinery, which converted it into kerosene, which would then have been sent to supply Russian planes involved in the conflict in Ukraine. TotalEnergies denied the destination of these fuels, also indicating that the efforts to sell this joint venture had begun several weeks ago.
An agreement signed on July 18 between the two parties
TotalEnergies agreed on July 18 with Novatek (which also owns 19.4%, editor’s note) to sell its 49% stake in Terneftegaz, and this “under economic conditions that allow TotalEnergies to recover the amounts invested in this field”, indicates the press. statement, which does not give figures. Novatek has confirmed that it now owns 100% of this field.
The Russian authorities were seized on August 8 of a request for authorization of this transaction, gave their agreement on August 25, and TotalEnergies and Novatek thus signed the definitive sale agreement this Friday. The oil giant adds that this sale is part of its “principles of action” set in March for its activities in relation to Russia.
Novatek and TotalEnergies deny the charges
TotalEnergies has been under pressure since Le Monde published its investigation on Wednesday, based on documents and research carried out by the NGO Global Witness, accusing Termokarstovoye gas of having been used to fuel Russian warplanes involved in Ukraine. On Friday morning, the group published elements of Novatek assuring that this fuel is in no way intended for this purpose.
“All unstable condensates produced by our Novatek subsidiaries and related companies are treated at our Purovsky condensate stabilization plant,” before being “delivered to the Ust-Luga industrial complex in the Leningrad region, which manufactures products that include kerosene exported exclusively outside of Russia”, assures Novatek in this press release published by TotalEnergies.
Source: BFM TV
