How much does TotalEnergies earn annually from Russian LNG sales, and what are the two main sources of this income?

TotalEnergies earns about $400 million annually from selling liquefied natural gas cargoes from Russia's Yamal LNG plant, primarily through 'lifting' — direct access to cash booked by its UK entity — with revenue fluctuating due to Brent oil price linkage. The second source is dividends from its 20% stake in Yamal LNG and 19.4% stake in Novatek, Yamal’s parent company; however, dividend repatriation is limited by EU sanctions, and while dividends were estimated at $600 million per year in 2024, they remain largely stuck abroad.

Why doesn’t TotalEnergies’ Russian LNG income appear in its official financial reporting?

Since Moscow’s 2022 invasion of Ukraine, TotalEnergies has kept its stakes in Russian LNG plants but deconsolidated the holdings, meaning the associated revenues and assets are no longer included in its consolidated financial statements or official reporting.

TotalEnergies Earns $400 Million Annually from Russian LNG Sales, CEO Says

Jul 23, 2026

TotalEnergies CEO confirmed $400 million annual revenue from Russian LNG sales, highlighting ongoing trade flows despite EU sanctions scheduled to ban imports next year.

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