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(Reuters) – French oil large TotalEnergies shouldn’t be leaving the Yamal LNG undertaking for now, a supply acquainted with the matter stated on Friday, after the corporate determined to take a $3.7 billion write-off on its stake in Russia’s Novatek. Yamal LNG produces liquefied pure fuel in Russia’s Arctic. When requested if the corporate was remaining within the Yamal LNG enterprise, a spokesperson for TotalEnergies replied: “In fact, since TotalEnergies, on the request of EU authorities, has to maintain making certain that it continues to produce fuel to Europe through Yamal LNG.” TotalEnergies owns 20% within the undertaking, whereas Novatek has a 50.1% stake. China’s CNPC controlls 20%, whereas Silk Street Fund has 9.9%.
(Reporting by Reuters bureaux and Silvia Aloisi in Paris; Enhancing by Kevin Liffey)
Copyright 2022 Thomson Reuters.
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