TotalEnergies received $748 mln in dividends from Russia in first nine months

PARIS, Oct 27 (Reuters) – TotalEnergies (TTEF.PA) managed to receive around $748 million in dividends from its Russian assets in the first nine months of the year, the company said on Thursday.

Speaking to analysts on a conference call, finance chief Jean-Pierre Sbraire said TotalEnergies had received around $349 million in dividends from its Yamal LNG venture in the third quarter, and $368 million from its Novatek shareholding in the second quarter.

He said the group still has $6 billion of capital employed in Russia after writing down around $11 billion in the first nine months of the year.

The $3.1 billion Russia-related impairments booked in the third quarter was linked to writedowns on the company’s Novatek stake, he said.

It also reflected greater uncertainty on TotalEnergies’ ability to receive cash flows from Russia given Western sanctions, he added.

Reporting by Silvia Aloisi, editing by Tassilo Hummel

Our Standards: The Thomson Reuters Trust Principles.

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