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Radio France Internationale
Radio France Internationale
National
RFI

TotalEnergies exits Russian gas firm's board, takes $3.7bn hit

TotalEnergies Novatek Russia Moscow
Flowing wellhead equipment at the Utrenneye field, the resource base for Novatek's Arctic LNG 2 project, located in the Gydan Peninsula on the Kara Sea shore line in the Arctic circle. AFP - NATALIA KOLESNIKOVA

French energy group TotalEnergies said Friday it was withdrawing from the board of Russian gas giant Novatek and taking a $3.7 billion hit in the wake of sanctions against Moscow.

While other Western oil and gas major have exited Russia following Moscow's invasion of Ukraine, TotalEnergies has come under criticism as it has maintained most of its investments in the country.

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