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France’s Total wants to change no plans in Russia — new CEO

October 30, 2014, 17:40 UTC+3 LONDON
Total will fully fund its share in the Yamal liquefied natural gas project by March 2015
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© EPA/IAN LANGSDON

LONDON, October 30. /TASS/. France’s energy giant Total does not want to change its plans in Russia, newly appointed Total CEO Patrick Pouyanne said in the British capital on Thursday. He is participating in international conference Oil and Money under way in London.

On October 29, the first day of the conference Total Finance Director Patrick de La Chevardiere said that the French company would fully fund its share in the Yamal LNG project by March 2015.

The Yamal liquefied natural gas (LNG) project plans construction of a liquefied natural gas LNG-producing plant with annual capacity of 16.5 million tons of LNG with resources at Yuzhno-Tambeiskoye field. Proved and probable gas reserves at the field make 907 billion cubic metres. Implementation of the project envisages creation of transport infrastructure, including a seaport and an airport near settlement Sabetta in the northeast of the Yamal Peninsula. Yamal LNG joint stock company is fulfilling the project with Russian second largest gas producer NOVATEK holding 60% of its stock, Total - 20% and China’s energy giant CNPC - 20%.

Total CEO dies in jet crash in Moscow

Former Total CEO Christophe de Margerie died in a jet crash at a Moscow airport on October 20. Margerie's four-seat Dassault Falcon business jet, en route to Paris, collided with a snowplough, caught fire and fell onto the runway. Two pilots and a flight attendant also died in the crash.

The Russian Investigation Committee has detained five suspects in connection with the Falcon crash case. They include Vnukovo airfield’s leading engineer Vladimir Ledenev; airport’s flight operations director Roman Dunayev; air traffic controller Alexander Kruglov; trainee traffic controller Svetlana Krivsun and snowplow’s driver Vladimir Martynenko.

Total's new CEO

Patrick Pouyanne, the new CEO of Total, has been working for Total for around 20 years. In January 2012, Pouyanne was appointed President, Refining & Chemicals and member of the Executive Committee.

He graduated from the French engineering schools Ecole Polytechnique and Ecole des Mines in Paris. Most top managers of the Total corporation are graduates of this university.

French businessman Desmarest was also Chief Executive Officer at Total from May 1995 until February 2007, when he was replaced by Christophe de Margerie.

Total has a tradition to choose high-ranking executives from the company’s employees.

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