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Regulatory Information:
On January 21, 2022, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) introduced its determination to withdraw from the Yadana discipline and from gasoline transportation firm MGTC in Myanmar, each as operator and as shareholder, as a result of the state of affairs on this nation now not allowed TotalEnergies to make a sufficiently constructive contribution. Since then, TotalEnergies has initiated a due diligence course of to make sure a accountable withdrawal for its stakeholders in Myanmar, notably its workers and the native communities which have been supported by TotalEnergies for a few years by its function as an operator within the MGTC gasoline pipeline space.
On March 14, 2022, PTTEP Worldwide, a subsidiary of the Thai nationwide vitality firm PTT, confirmed its willingness to take over as operator of Yadana and MGTC and, according to this determination, to extend its direct stake in Yadana by taking on TotalEnergies’ fairness share. Chevron has additionally determined to take over TotalEnergies’ fairness share, thereby rising its stake in Myanmar. As a reminder, in mild of the distinctive state of affairs, TotalEnergies has chosen to withdraw from Myanmar with out in search of any monetary compensation for its belongings.
As well as, PTTEP has expressed its willingness to tackle all workers at present employed by the TotalEnergies affiliate in Myanmar. TotalEnergies is working carefully with PTTEP to make sure that the transition happens in a good and orderly method. With respect to our workers who’ve been guaranteeing the protection and effectivity of operations in Myanmar since January 21, TotalEnergies will assist all those that want to switch to the brand new operator and can be sure that they proceed to be employed below the identical situations.
On the similar time, TotalEnergies will work with PTTEP to make sure that the present socio-economic growth program led by TotalEnergies to help native communities residing close to the MGTC pipeline will proceed after its withdrawal. To this finish, TotalEnergies will allocate the sources essential to a devoted fund with the intention to contribute financially to the actions to be carried out by the longer term operator.
TotalEnergies’ withdrawal from Yadana and MGTC might be efficient on the newest on the expiry of the 6-month contractual interval, i.e. July 20, 2022, giving the Firm and PTTEP sufficient time to make sure the secure and orderly switch of the operatorship whereas guaranteeing a good transition for our key stakeholders, our workers and native communities the place we function.
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About TotalEnergies
TotalEnergies is a worldwide multi-energy firm that produces and markets energies: oil and biofuels, pure gasoline and inexperienced gases, renewables and electrical energy. Our 105,000 workers are dedicated to vitality that’s ever extra inexpensive, cleaner, extra dependable and accessible to as many individuals as potential. Energetic in additional than 130 international locations, TotalEnergies places sustainable growth in all its dimensions on the coronary heart of its initiatives and operations to contribute to the well-being of individuals.
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Cautionary Notice
The phrases “TotalEnergies”, “TotalEnergies firm” or “Firm” on this doc are used to designate TotalEnergies SE and the consolidated entities which might be immediately or not directly managed by TotalEnergies SE. Likewise, the phrases “we”, “us” and “our” can also be used to refer to those entities or to their workers. The entities during which TotalEnergies SE immediately or not directly owns a shareholding are separate authorized entities. This doc could include forward-looking data and statements which might be based mostly on various financial knowledge and assumptions made in a given financial, aggressive and regulatory surroundings. They could show to be inaccurate sooner or later and are topic to various danger components. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to replace publicly any forward-looking data or assertion, goals or traits contained on this doc whether or not on account of new data, future occasions or in any other case. Info regarding danger components, that will have an effect on TotalEnergies’ monetary outcomes or actions is offered in the latest Common Registration Doc, the French-language model of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and within the Kind 20-F filed with the US Securities and Change Fee (SEC).
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CONTACT: TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com l
@TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
SOURCE: TotalEnergies SE Copyright Enterprise Wire 2022
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