TotalEnergies is considering the New York Stock Exchange for its main listing, the French executive is opposed to it

TotalEnergies is considering the New York Stock Exchange for its main listing, the French executive is opposed to it
TotalEnergies is considering the New York Stock Exchange for its main listing, the French executive is opposed to it

(Ecofin Agency) – For several years, the TotalEnergies group has strengthened itself in the United States, both in American liquefied gas, of which it is the leading exporter, and in battery storage and renewable electricity projects.

The CEO of TotalEnergies, Patrick Pouyanné (photo), announced at the end of April in an interview with Bloomberg that its Board of Directors had asked it to study the possibility of a primary listing of the oil giant on the New York Stock Exchange.

According to Pouyanné, it would be a “legitimate question», given the rise in power of North American shareholders in the capital. “I think this is a legitimate question. It’s not a question of emotion. It’s a business question“, he emphasizes.

Faced with these desires from elsewhere, the French executive reacted strongly on May 2 on the airwaves of BFMTV. French Economy Minister Bruno le Maire said he took seriously the oil major’s plan to choose New York as its main listing location to the detriment of Paris, saying such a decision should not have place.

Is it in the best interest of the nation to keep the head office of TotalEnergies in France and the main listing of Total in France? Yes. So I will fight for this», declared the minister.

As a reminder, TotalEnergies is involved in several hydrocarbon projects in Africa, which will require significant financial mobilization on its part. In 2020, the French giant also announced the signing of an external financing agreement for the Mozambique LNG project, for an amount of $14.9 billion.

Abdullah Diop

Also read:

04/26/2024 – TotalEnergies announces a 6% increase in its Liquefied Natural Gas production year-on-year

04/24/2024 – Congo: TotalEnergies reorganizes its assets in the country

03/26/2024 – South Africa: new attempt to block TotalEnergies’ oil and gas exploration plans

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