TotalEnergies chief calls potential EU sanctions on Russian LNG a financial boon [Reuters]
TotalEnergies SE (TTE)
Company Research
Source: Reuters
TotalEnergies , chief executive Patrick Pouyanne said on Friday, in response to an analyst question about the impact of potential EU sanctions. KEY QUOTES "If the EU sanctions Yamal LNG, the price of LNG will go up quickly and globally our portfolio will benefit," Pouyanne said. "It's a positive if there were sanctions, not a negative, because the cash from Yamal is quite limited," he added. "European leaders understand that their security of supply today relies on LNG and they don't want again to see price rises... what I understand is that they might have some ideas, but from 2027 on, not before," he said. CONTEXT The French energy major has a 20% stake in the Yamal LNG project in eastern Russia, which is majority owned by private Russian LNG producer Novatek. TotalEnergies also holds a 19.4% stake in Novatek. Report this ad Pouyanne said the company did not receive a dividend from Yamal LNG since 2023, as sanctions on financial transactions with Russia make it dif
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