TotalEnergies CEO Patrick Pouyanné has defended the company’s continued involvement in Russian liquefied natural gas (LNG) projects, stating that the French energy giant generates approximately $400 million annually from these assets.
The disclosure comes amid ongoing scrutiny of Western energy firms maintaining operations in Russia following Moscow’s invasion of Ukraine in 2022.
According to reports from Naftemporiki, TotalEnergies has retained its equity stakes in Russian LNG facilities but has dismantled its direct operational participation.
This structural adjustment means that while the company continues to receive revenue from the projects, the funds do not flow directly into its core operational accounts in the same manner as pre-war arrangements.
The move reflects a broader industry trend of distancing from direct management while preserving asset value and supply chains.
The revelation underscores the complex balancing act faced by major energy producers navigating geopolitical sanctions and market realities.