TotalEnergies to Sell 49% Interest in Russian Gas Field to Novatek
26 Agosto 2022 - 11:08AM
Dow Jones News
By Cristina Roca
TotalEnergies SE said Friday that it is selling its 49% interest
in Terneftegaz, which operates the Termokarstovoye gas and
condensates field in Russia, to natural-gas producer Novatek.
The terms of the deal enable the French energy company to
recover outstanding sums invested in the field, it said. It didn't
disclose the transaction value.
TotalEnergies agreed to the sale last month, and the Russian
authorities signed off on the deal Thursday, it said. Closing is
expected in September.
Russia's Novatek is now the sole owner of the business, it said
separately on Friday.
TotalEnergies has denied speculation that it was involved in
producing kerosene for the Russian army via its partnership with
Novatek.
According to FactSet, TotalEnergies holds a 16.5% stake in
Novatek.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
August 26, 2022 09:53 ET (13:53 GMT)
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