TotalEnergies CEO: Our main motivation on Russia is to bring LNG over to Europe
11/9/2022
(Reuters) - The main motivation for TotalEnergies regarding Russia - where the French company has kept its assets despite Western sanctions - is to bring LNG over to Europe, its chief executive said on Wednesday.
"Our sole motivation is to bring over LNG to Europe," TotalEnergies Chairman and CEO Patrick Pouyanne told a French parliamentary hearing, as he defended the company's presence in Russia in spite of sanctions over its invasion of Ukraine.
Unlike London-based rivals BP and Shell, TotalEnergies has held on to investments in Russia, including minority stakes in gas producer Novatek and the Yamal LNG and Arctic LNG 2 projects.
(Reporting by Sudip Kar-Gupta; Editing by Jan Harvey)
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