TotalEnergies
French integrated energy major; holds Russian LNG long-term contract grandfathered to January 2027.
Last refreshed: 27 April 2026 · Appears in 1 active topic
When TotalEnergies' Russian LNG contract expires in 2027, what fills the gap?
Timeline for TotalEnergies
Held long-term Russian LNG contract grandfathered to 1 January 2027
European Energy Markets: EU Russian LNG ban begins; TTF barely flinches- Does TotalEnergies still buy Russian LNG?
- Yes. TotalEnergies holds a long-term Russian LNG supply contract grandfathered under the EU's April 2026 short-term spot ban; the contract runs until 1 January 2027.Source: EU Council / Lowdown
- What is TotalEnergies' stake in Yamal LNG?
- TotalEnergies holds a 17% stake in Yamal LNG, Novatek's operational 16.5 mtpa LNG plant on the Yamal peninsula in Russia.
- Why has TotalEnergies not left Russia?
- TotalEnergies has formal stakes in Yamal LNG and Arctic LNG 2 that are legally complex to unwind. The company faces investor and government pressure but has not formally exited Russian upstream assets.
Background
TotalEnergies is France's largest integrated energy company and one of the world's five major oil and gas supermajors, with operations spanning hydrocarbons, renewables, and power trading in over 130 countries. Its upstream gas portfolio includes a 17% stake in Yamal LNG and a 10% stake in Arctic LNG 2, both Novatek-operated Russian Arctic projects.
The EU's short-term Russian LNG spot-contract ban entered force on 25 April 2026, but TotalEnergies' long-term Russian LNG supply contract was explicitly grandfathered and remains valid until 1 January 2027. This carve-out drew criticism from EU member states pressing for a faster phase-out, though it reflects the legal difficulty of unwinding supply agreements prior to expiry.
TotalEnergies has faced sustained investor and government pressure to exit its Russian upstream exposure since 2022, but its formal participation in both Yamal LNG and Arctic LNG 2 structures has not been formally unwound. The company's January 2027 contract expiry will be a closely watched inflection point for European LNG supply adequacy.
