TotalEnergies says it is prepared to operate without Russian liquefied natural gas (LNG) as Europe moves toward banning imports from Moscow. The French energy giant maintains that it can easily replace these supplies while continuing to hold a 20% stake in Russia’s Yamal gas field.

CEO Patrick Pouyanne told journalists that TotalEnergies will fully comply with the European Union’s upcoming ban on Russian LNG, set to take effect in autumn 2027. “We can do without this LNG,” he said, while noting that the company will remain a shareholder in Yamal and continues to receive dividends, which remain in Russia and are not included in company earnings.

Pouyanne explained that TotalEnergies’ previous imports of Russian LNG were aimed at ensuring Europe’s energy security and preventing a spike in prices during the post-2022 energy crisis. Since 2021, EU reliance on Russian gas has fallen from 45% of total imports to just 19% in 2024.

Looking ahead, Pouyanne highlighted the expected arrival of new LNG projects in 2027 and 2028, which should boost supply and help stabilize prices for European consumers.

TotalEnergies posted a 17% drop in net profit last year, reaching $13.1 billion, due mainly to declining oil and gas prices. Despite criticism from environmental groups over its continued focus on fossil fuels, the company continues to identify natural gas as one of its strategic priorities.