French energy giant wants to continue trading in russian LNG

This refers to the period when the ban on russian LNG supplies to the European Union comes into force. This was stated by Leonid Mikhelson, chairman of Novatek, the majority owner of the Yamal LNG project, according to Interfax.

“Total is very keen to take everything and sell it,” said Mikhelson.

“This is permitted under the EU’s 21st sanctions package: under existing long-term contracts, European companies are allowed to sell our products,” added the russian oligarch.

In February 2026, TotalEnergies CEO Patrick Pouyanné stated that his company was exploring the possibility of supplying russian LNG outside the European Union. According to him, TotalEnergies planned to redirect supplies from the EU to Asia once the ban on russian gas imports came into force. Pouyanné noted that there is a lack of clarity in the European Commission’s decisions as to whether European companies are permitted to trade in russian LNG outside the European Union.

Yamal LNG is a joint venture between Novatek (50.1 per cent), the French company TotalEnergies (20 per cent) and the Chinese companies CNPC (20 per cent) and SRF (9.9 per cent). The Yamal LNG plant has a design capacity of 16.5 million tonnes of LNG per year (three production lines, each with a capacity of 5.5 million tonnes per year).

As previously reported, the European Union has approved a plan to ban imports of russian gas by the end of 2027, specifically:

— from 25 April 2026, short-term contracts for LNG imports will be banned;

— from 17 June 2026, short-term contracts for pipeline gas will be banned;

— from 1 January 2027: long-term contracts for LNG imports;

— from 30 September 2027: imports of pipeline gas under long-term contracts.

Source: NV