Once again, TotalEnergies find themselves playing defense.
The French group is attacked for having decided to stay in Russia, despite the invasion of Ukraine on February 24.
In addition to the NGOs, the French major's usual adversaries, two shareholders, the Church of England pension fund and the activist Clearway Capital, have stepped up to demand its exit from Russia.
Behind these rare public positions, the feelings of shareholders are however very divided, notes in a note the analysts of the RBC bank, who have exchanged in recent days with 25 of them.
And for good reason, they know well what Russia brings to TotalEnergies.
The group owns 19.4% of the private group Novatek, and has invested alongside its local partner 15 billion dollars in the gas site of Yamal, in Siberia, of which it owns almost 30%.
It also participates in the financing of a second liquefied natural gas export project, Arctic LNG 2, close to the first…
This article is for subscribers only.
You have 79% left to discover.
Cultivating your freedom is cultivating your curiosity.
Keep reading your article for 1€ the first month
I ENJOY IT
Already subscribed?
Login
