It holds a 19.4% stake in gas producer Novatek and minority holdings in liquefied natural gas (LNG) projects Yamal LNG and Arctic LNG.
"Under these circumstances, the board of directors of TotalEnergies has decided to withdraw the representatives of the company from the board of PAO Novatek with immediate effect."
"The stake in Novatek was, in our view, potentially the least arduous of TotalEnergies' interests to exit."
He said he did not expect TotalEnergies to exit Yamal LNG and believed the decision would not impact Novatek dividend payments to TotalEnergies.
It said the Novatek write-off also meant it would no longer book related reserves, with an impact on the company's reported proved reserves at the end of 2021 of 1.7 billion of barrels.