TotalEnergies CEO Patrick Pouyanné has stood up, as soon as extra, for the corporate’s values – however defended the purchases of Russian LNG.

“TotalEnergies will proceed to make sure the availability of LNG from Russia to Europe as a result of we’re certain by long-term contracts,” the manager stated.

“As of as we speak, the European Union has no various however to keep up its provide of Russian fuel. Given the logistical constraints of the European fuel system, there merely exist no options: reducing off Russian fuel would severely disrupt Europe’s financial exercise by winter 2023.”

The French firm has determined to droop purchases of oil and merchandise from Russia as quickly as attainable. Pouyanné, in feedback on Linkedin, stated this might be no later than the top of this 12 months, when the final contract expires.

This step, he stated, goes additional than required by European sanctions. Whole will safe provides for European demand from different sources. The corporate has beforehand talked about Saudi Arabia’s Satorp facility as a gasoil alternative.

Whole, Pouyanné stated, was taking care to come back to the correct selections, “relatively than with loud statements and insults. I’ll by no means settle for feedback that solid doubt on our company values or on the each day efforts of our 100,000 workers worldwide.”

The chief, talking in Qatar on the weekend, defended Whole’s resolution to not merely write off its Russian belongings. “These belongings are there, I cannot give them without cost to [Russian President Vladimir] Putin. As a result of that is what it means, leaving as we speak,” Pouyanné stated on the Doha Discussion board.

Presidential potshots

A French presidential candidate, Yannick Jadot, criticised Whole just lately, describing the corporate as an “confederate of Putin”. The corporate “completely discredits France”, the environmentalist politician stated. AFP has reported that Whole is contemplating authorized motion in opposition to Jadot for his feedback.

The difficulty is clearly divisive in France. One other presidential candidate, Jean-Luc Mélenchon, has opposed the thought of proscribing Russian vitality flows. Mélenchon drew an equivalence between reliance on Russian fuel and US LNG, saying France ought to have vitality independence.

The primary spherical of France’s presidential elections is because of happen on April 10.