PARIS — French company TotalEnergies, under pressure from politicians over its business interests in Russia, detailed a total exposure of 1.1 billion euros ($1.2 billion) in total to the Yamal LNG and Arctic LNG 2 programs led by Novatek in the Russian Arctic.
“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.
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“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.
Reporting by Benjamin Mallet.