TotalEnergies to sell Russian Terneftegaz stake

TotalEnergies, which is facing criticism over its various business ties with Russia, on Friday said it would sell its stake in Terneftegaz, a joint venture with Novatek.

"On August 26, 2022, TotalEnergies and Novatek signed the final sale and purchase agreement of TotalEnergies’ 49% interest in Terneftegaz. Closing is expected in September 2022, subject to customary conditions," the company said in a statement.