French energy giant TotalEnergies has said it has done everything within its power for now to limit revenues going to the military junta in Myanmar while staying within a legal framework and maintaining crucial power supplies.
French oil major Total must continue to produce gas in Myanmar and pay taxes to the military junta to protect staff from forced labor and maintain electricity supplies, Chief Executive Patrick Pouyanne said in an op-ed in Le Journal du Dimanche newspaper.
Myanmar’s transition towards renewable energy sources will face near-term headwinds after the recent military coup. However, analysts are more optimistic over the medium to longer term given the dominance of Chinese companies in the sector.
