TotalEnergies is hosting its annual shareholders meeting on Friday, May 24. Amongst the resolutions is a vote to reduce the concentrated power of Patrick Pouyanné, who is both the company's CEO and chairman, by dividing his roles. The resolution, which is intended to speed up the company's shift away from fossil fuels, is reflective of shareholders increasing concerns over what kind of energy the company is investing in. Not up for discussion, however, is where those investments are being made.
Under Pouyanné's leadership, TotalEnergies has defined itself as the fossil fuel major willing to do business in conflict states. When questioned about the human rights implications of these investments, Pouyanné's answers have been consistent – so long as they are legal, they will continue.
On TotalEnergies' ongoing role in the trade of Russian gas, Pouyanné commented, "We will continue to ship LNG from Russia as long as there is no sanctions." On the implications of TotalEnergies' investments in Azerbaijan, he stated in a recent hearing in France's Sénat: "Don't ask us to take the moral high ground. If the European Union and the United Nations decide to impose sanctions on Azerbaijan, we will apply them."
Europe is doubly mistaken
Indeed, it is up to governments to set energy policy and the last two years have shown us the perils of shortsighted ones that weaken Europe's long-term national and energy security interests. Russia's status as a fossil fuel superpower was built over decades by Western majors like TotalEnergies through the technological and financial investments they made there.
Now, with no consideration for the lessons of the last two years, the European Union (EU) has committed to doubling its imports of gas from Azerbaijan by 2027, a contract that earned Baku €15.6 billion in 2022 alone. With the EU's blessing, TotalEnergies is funding another authoritarian regime through its investments in gas infrastructure there. By increasing dependence on another authoritarian nation that systematically violates human rights and international norms, Europe is lending the dictatorial regime of President Ilham Aliyev money and legitimacy that will embolden it to pursue further military incursions into Armenia.
The EU is being doubly short-sighted in its pursuit of supplementing Russian gas with gas from Azerbaijan. The Caspian petrostate is helping to fulfill Europe's demands by increasing its gas imports from Russia, indirectly sending funds to the Kremlin anyway.
While Europe brushes this uncomfortable reality under the rug, others are paying with their lives for calling attention to it. In 2023, Dr. Gubad Ibadoghlu, a renowned economist known for his criticism of the fossil fuel industry that underpins Azerbaijan's corrupt government, was arrested and badly beaten. Having been jailed in harsh conditions on spurious charges he awaits trial, facing the possibility of years in prison.
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