According to Reuters article published on November 9, 2022, the main motivation for TotalEnergies (TTEF.PA) regarding Russia - where the French company has kept its assets despite Western sanctions - is to bring liquefied natural gas (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 (BP.L) and Shell (SHEL.L), TotalEnergies has held on to investments in Russia, including minority stakes in gas producer Novatek and the Yamal LNG and Arctic LNG 2 projects.
