TotalEnergies SE said Thursday it hasn’t ruled out exiting Russia entirely, a move management said would not disrupt the significant growth seen in the firm’s liquefied natural gas (LNG) operations. 

Yamal

The Paris-based supermajor again condemned Russia’s invasion of Ukraine during its first quarter earnings call. Management announced after the incursion that it would provide no more capital to projects in the country and began gradually suspending activity. For now, the company has no plans to make a full exit, but CEO Patrick Pouyanne said it is “a possible scenario.”

In the meantime, the company intends to continue honoring its contracts with Russia’s PAO Novatek and Yamal LNG, given the large sums of money involved. TotalEnergies also announced that it would book a...