TotalEnergies: We Will Stay In Russia To Provide Energy Supplies To Europe
In order to supply energy to Europe, the French oil and gas giant TotalEnergies will be progressively exiting the Russian market while maintaining a presence there, said Patrick Pouyanne, the company’s CEO.
« We are leaving Russia gradually. All of our non-energy supply related activities have been stopped, » Mr. Pouyanne added.
He claimed that TotalEnergies had a deal with a Russian energy firm that exported 70% of its output to Europe. The head of TotalEnergies stated, « Europe needs this Russian gas. »
He declared that the business will cancel this arrangement as soon as Europe decides to implement sanctions against Russian gas. TotalEnergies has halted all investment in projects in Russia, Patrick Pouyanne noted. “Today, while ensuring supply to Europe, we are attempting to progressively disengage from Russia,” he added.