Yamal LNG Project Represents Core of Cooperation With Russia - Total CEO

Total CEO Patrick Pouyanne said that the Yamal LNG project represents the core of cooperation between the French oil and gas giant Total and its Russian partners.

HOUSTON (Sputnik) — The Yamal LNG project represents the core of cooperation between the French oil and gas giant Total and its Russian partners, Total CEO Patrick Pouyanne said at the IHS CERAWeek gathering in Houston, Texas.

“For the time being, in Russia we are fully dedicated to develop Yamal LNG, which is a huge project, a challenging project of 27 billion dollars,” Pouyanne said on Tuesday. “This is really the core of our work.”

The Yamal LNG project is one of the largest industrial undertakings in the Arctic, based on the estuary of the Ob River. The project ensures production and marketing of the Russian Arctic’s vast natural gas reserves and has involved the construction of a major new maritime route for transporting liquefied natural gas to Europe and Asia.

When asked about the concerns regarding Total’s investments in Russia under Western sanctions, Pouyanne said his belief is the project will be a success.

“Russia will not collapse. It’s more complex than that. Life is not black and white,” he explained.

Pouyanne also underlined that the company’s operations in Russia represent ten percent of Total’s undertakings.

“Ten percent is fine, more I think is too much,” he concluded.

Total is the world’s fourth-largest oil and gas company with operations in more than 130 countries and more than 100,000 employees, according to the company’s website.