Overview
- The European Commission has proposed advancing the phase‑out of Russian LNG imports to January 1, 2027, a measure that still requires unanimous approval by EU members.
- TotalEnergies CEO Patrick Pouyanne said cargoes from Russia’s Yamal LNG could be redirected to markets such as Turkey or India if the EU imposes an import ban rather than sanctions on the project.
- Pouyanne noted Yamal LNG is not under Western sanctions and said project‑level sanctions would trigger force majeure and halt deliveries, unlike an import ban that allows diversion.
- TotalEnergies holds a 20% stake in Yamal LNG and is entitled to 5 million tonnes annually, with roughly 2 million tonnes currently sent to Europe, 2 million to Asia, and 1 million without a set destination.
- A Greenpeace report estimates the Kremlin collected about €8.10 billion in taxes from EU Russian LNG trade in 2022–2024, says Yamal LNG earned roughly $40 billion with about $9.5 billion in profit tax, and identifies Belgium, France, and Spain—via the Zeebrugge hub—as leading EU entry points, while warning that long‑term contracts to 2038–2041 risk legal disputes.