A roundup of news and commentary from NGI’s LNG Insight

  • TotalEnergies SE is withdrawing its representatives on PAO Novatek’s board and said it would stop accounting for its 19.4% stake in the company. TotalEnergies said it would record a $3.7 billion impairment on the move in 4Q2022 and also stop booking reserves related to its interest in the company.
  • Novatek is Russia’s largest independent gas producer. TotalEnergies said it can’t sell its stake in the company because of sanctions. The decision comes as part of a broader effort to pull out of Russian assets following the war in Ukraine. The company decided earlier this year to stop providing capital for Novatek’s Arctic LNG 2 project, which it holds a 10% stake in.
  • FERC has approved Energy Transfer LP’s request to...