The head of Novatek spoke about plans for Yamal LNG and Arctic LNG 2

MOSCOW, 7 Sep — PRIME. The French TotalEnergies remains in Yamal LNG and Arctic LNG 2, and has been considering exiting Terneftegaz for a long time, so the sale of a stake in this joint venture is not associated with publications in the media, the head of Novatek told reporters at a briefing at the Eastern Economic Forum Leonid Michelson.

The French publication Le Monde said in August that TotalEnergies was involved in the supply of gas condensate for the production of jet fuel, which could be used by the Russian military in Ukraine. It was about condensate from Terneftegaz (the first joint venture with Novatek). TotalEnergies refuted these reports and published Novatek’s explanations excluding such a possibility. Almost at the same time, the parties announced that TotalEnergies was withdrawing from the joint venture and that the company would be completely taken over by Novatek.

“This is completely unrelated to the article, it just happened in time. We had the first conversations at the end of 2021 about leaving the project. We also did it with (the former head of Total, Christophe de – ed.) Margerie. He spoke wisely the idea that we need to start with something small: the teams will learn to work with each other, and then we will do something big,” Mikhelson said, commenting on the purchase of TotalEnergies’ stake in Terneftegaz.

He added that the latest negotiations on this issue began three or four months ago. Then, after the Russian President issued a decree banning the sale of shares of foreign companies in a number of Russian enterprises until December 31, Novatek received special permission to conduct the deal. “Total remains in Russia, it is not interested in this project because of its size. It is extremely interested, especially in today’s prices, in Yamal LNG, and it remains a shareholder in Arctic LNG 2,” Mikhelson noted.

As for the statements of the newspaper Le Monde, the head of Novatek commented on them as follows: “Total quoted our answer, it is thorough. Then they (the media – ed.) argue that there is still condensate from your plant to Omsk. but our condensate doesn’t go there.”

The WEF takes place on September 5-8 on the campus of the Far Eastern Federal University on Russky Island in Vladivostok. RIA Novosti acts as the general media partner of the forum.