Myanmar: TOTAL: Shareholders of Moattama Gas Transportation Company Limited Vote to Suspend All Cash Distributions
26 Mayo 2021 - 10:05AM
Business Wire
Regulatory News:
In light of the unstable context in Myanmar, following a joint
proposal by Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and Chevron at
the occasion of a shareholders’ meeting of MGTC (Moattama Gas
Transportation Company Limited) held on 12th May 2021, cash
distributions to the shareholders of the company have been
suspended.
The decision to suspend is effective from 1st April 2021 and all
cash distributions by MGTC to its shareholders (Total (31.24%),
Chevron (28.26%), PTTEP (25.5%) and MOGE (15%)) are suspended.
MGTC gas transportation system carries the gas produced from the
Yadana field operated by Total Exploration & Production Myanmar
to the Myanmar/Thailand border over a distance of 400
kilometers.
Total continues to act as a responsible operator of the Yadana
field, maintaining the production of gas in accordance with
applicable laws, so as not to disrupt the electricity supply that
is vital to the local populations of Myanmar and Thailand.
Total condemns the violence and human rights abuses occurring in
Myanmar and reaffirms that it will comply with any decision that
may be taken by the relevant international and national
authorities, including applicable sanctions issued by the EU or the
US authorities.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms “Total,” “Total Group” and Group are
sometimes used for convenience. Likewise, the words “we,” “us” and
“our” may also be used to refer to subsidiaries in general or to
those who work for them. This document may contain forward-looking
information and statements that are based on a number of economic
data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TOTAL
SE nor any of its subsidiaries assumes any obligation to update
publicly any forward-looking information or statement, objectives
or trends contained in this document whether as a result of new
information, future events or otherwise.
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