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Search resuls for: "China's CNPC"


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Oct 19 (Reuters) - Technip Energies (TE.PA) shares plummeted on Thursday after French newspaper Le Monde said the oil and gas company may have failed to comply with European Union sanctions against Russia by continuing to supply equipment to a Russian gas project. Technip Energies said in a statement after its shares fell as much as 22% that it had always respected international sanctions and its contractual obligations regarding the Arctic LNG2 project in Russia. "Technip Energies has worked with the relevant authorities and has complied with sanctions gradually imposed by the European Union, the United States and Britain," it said. The equipment delivered by Technip involved two modules for the construction of a liquefaction train worth around 450 million euros, Le Monde said, citing Russian customs records, maritime data and satellite images. "$800 million of market cap came off, it's a very harsh response, and suggests the news scared investors out there," said the analyst, who spoke on condition of anonymity, referring to the Le Monde story.
Persons: Le Monde, Monde, Technip, China's CNPC, Piotr Lipinski, Nathan Vifflin, Benjamin Mallet, Silvia Aloisi, David Evans Organizations: Union, Russia, European Union, Le, Japan, Mitsui & Co, Thomson Locations: Russian, Russia, United States, Britain, Paris, EU, Ukraine, Gdansk
If sealed, this would be the second such deal between major LNG exporter Qatar and the world's no.2 LNG buyer, as Beijing looks to beef up gas supply and diversify its sources in a drive to replace coal and cut carbon emissions. CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar. "This is a good move for CNPC, securing additional long term supply from a reliable and well positioned partner. Sinopec said in November the gas purchase agreement was part of an "integrated partnership", which indicated the Chinese firm could be considering acquiring a stake in Qatar's North Field expansion export facility. Chinese customs data showed the country's imports of Qatari LNG surged 75% last year from 2021 to 15.7 million tonnes, making up a quarter of the nation's total imports, while China's total LNG imports shrank nearly 20%.
TotalEnergies stays in Russia's Yamal LNG - source
  + stars: | 2022-12-09 | by ( ) www.reuters.com   time to read: 1 min
Dec 9 (Reuters) - French oil giant TotalEnergies (TTEF.PA) is not leaving the Yamal LNG project for now, a source familiar with the matter said on Friday, after the company decided to take a $3.7 billion write-off on its stake in Russia's Novatek (NVTK.MM). Yamal LNG produces liquefied natural gas in Russia's Arctic. When asked if the company was remaining in the Yamal LNG venture, a spokesperson for TotalEnergies replied: "Of course, since TotalEnergies, at the request of EU authorities, has to keep ensuring that it continues to supply gas to Europe via Yamal LNG." TotalEnergies owns 20% in the project, while Novatek has a 50.1% stake. Reporting by Reuters bureaux and Silvia Aloisi in Paris; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.
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