Total stops buying Novatek’s shares

The French petrochemical company Total has stopped buying the shares of independent gas producer Novatek after the downing of the Malaysian Boeing 777 near Donetsk on July 17th, the Wall Street Journal writes on July 30th, citing head of the concern’s financial department Patrick de la Shevardera.

"We stopped buying the Novatek’s shares after the incident with the Boeing 777 of the Malaysia Airlines,” - said the top manager during the conference call with investors. He declined to comment.

According to Shevardera, Total intends to discuss the issue of sanctions with its Russian partners at the end of August. At the same time, the management of the French concern appreciated the prospects of oil and gas production in Russia.

"Russia is a great oil and gas country. But we need time to evaluate these new sanctions,"- said the top manager. "We didn’t suspend the operations on the Yamal Peninsula. We have agreed with our partners to discuss the situation at the end of August,"- he said.

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