Total Oil, EU Commission

What awaits Russia on European gas market?

Russia, until recently, has beaten all previous records on gas exports, providing over one third of Europe’s needs.

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Patrick Pouyanne joins the support of "Nord Stream-2".

The head of Total Patrick Pouyanne had joined the support of the project for the construction of the Nord Stream-2 gas pipeline, as he stated during the World Gas Congress.

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Vladimir Putin supports idea of liberalization of system of access to gas export to Europe

Russia will think about liberalization of the system of access to gas exports to Europe. This was stated by the Russian President Vladimir Putin, speaking at the SPIEF-2018.

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The Minister of Economy Bruno Le Maire: France is ready to reconsider the financing scheme for the Nord Stream-2 project.

Total as a key investor into the Russian economy and will facilitate the withdrawal of Russian gas from the Yamal-LNG field to the European market.

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Total without retinue.

The French have left the hard-to-recover oil to LUKOIL.
French Total, confirming its continued interest in working in Russia, is still leaving its problem projects. Following Shtokman the French will abandon the joint venture with Lukoil to develop areas with hard-to-recover oil: Total still can not work here under sanctions. However, the company intended to maintain other projects in Russia, the head of Total in Russia Jacques de Buassezon confirmed "the Kommersant".
LUKOIL was going to compensate costs of the acquisition of three licenses for areas with hard-to-recover oil at Bazhenov Formation for the Total, Vagit Alekperov stated yesterday. "We agreed that we will continue to work on our own", - he stated, adding that Total "will certainly be able to return to the project after the sanctions". The head of Total in Russia Jacques de Buassezon confirmed "the Kommersant" that "the company wants to resume cooperation with LUKOIL at the Bazhenov Formation, once the sanctions are lifted".

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The Russian oil producers face the sanctions.

In the future neither western money, nor technologies will be observed.
The Russian oil companies have recognized that the sanctions, imposed by the United States and the EU, will significantly affect the development of the production in the Russian Federation. For "Rosneft" the prospect of extraction in the Arctic is up in the air, "Gazpromneft" will have to find new suppliers of equipment for their offshore operations, and Lukoil expects difficulties with the extraction of hard-to-recover oil. Vagit Alekperov acknowledged that Russian oil companies should get used to the absence of the external loans and Western technologies.
LUKOIL became the first of the major oil companies of Russia, which a week ago announced the consequences of the tighter Western sanctions. On Friday,the CEO, Vagit Alekperov stated that, although only the technological and non-financial sanctions entered against Lukoil, the foreign capital markets are closed. "We do not expect that we will get some money, especially in the medium term, we must rely on our own funds", - he stated. In early September LUKOIL has reported its intention to reduce its investment program for 2015 by $ 2 billion to impose it without loans (see. "the Kommersant" dated September 1).

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Total’s general director opposes isolation of Russia as a gas supplier

Europe should think not about the reduction of its dependence on Russian gas, but about safety of its supplies, including the delivery options bypassing the Ukraine, general director of the French oil company Total ,Christophe de Margerie believes.
"This winter, we will have problems if it interruptions in supply take place and the cold weather comes - this is obvious," - de Margerie said in an interview with the Reuters.
"Can we live in Europe without Russian gas? The answer is no. Do we have any reasons to live without it? I think - and in this case I don’t defend Total’s interests in Russia, we don’t," - he added.

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