TotalEnergies Seeks Exit From Venezuelan Gas Projects
- French firm negotiating to sell stake in natural gas venture
- Total and Equinor returned license for offshore project
This article is for subscribers only.
TotalEnergies SE is negotiating an exit from its natural gas operations in Venezuela, just months after the French energy giant closed its oil business in the country.
The company is pulling out of its majority stake in YPergas SA, a joint venture in central Guarico state that produces around 50 million cubic feet of gas per day, according to four people with direct knowledge of the negotiations. Sucre Energy, a private equity group with offices in Caracas, entered into talks within the last month to buy Total’s stake, according to the people.