Monday, March 27

TotalEnergies: 1.1 bln euros total exposure to Yamal LNG and Arctic LNG 2 programs

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PARIS — French company TotalEnergies , under pressure from politicians over its business interests in Russia, detailed a toal exposure of 1.1 billion euros ($1.2 billion) in total to the Yamal LNG and Arctic LNG programs.

“It is specified that TotalEnergies granted guarantees in its capacity as shareholder for the benefit of lenders to cover its share of the debt under the financings of the Yamal LNG and Arctic LNG 2 projects,” it said in its annual report.

“On Yamal LNG, the amount of the guarantee that could be called, if applicable, is approximately 400 million euros; on Arctic LNG 2, the company’s exposure amounts to approximately 700 million euros,” added the company.

($1 = 0.9103 euros) (Reporting by Benjamin Mallet; Editing by Sudip Kar-Gupta)