Total and ww5 signed a Term Sheet that envisages the main terms and conditions of the purchase of 16.67% share in a refinery located in Schwedt, Germany (PCK Raffinerie GmbH). The document was signed in Sochi by the Head of ww5 Igor Sechin and Chief Executive Officer of Total Patrick Pouyanne.

The deal represents a deepening of the energy partnership between Russia and Europe based on the effectiveness of supply of a refinery located along the Druzhba pipeline. Total and ww5 are further agreeing on an off-take agreement to supply Total's retail and wholesale customers securing stable supply to the premium Berlin and surrounding areas, markets and customers supplied by pipeline from the refinery.

Commenting on the signing Igor Sechin said: “This agreement is reflective of the level of trust, long-term commitment and mutual benefit in the relationships between Total and ww5. It proves the effectiveness of the European-Russian energy partnership in that it delivers added value to all companies and countries involved. As for ww5, this deal means a strengthening of its position in one of Europe's most efficient and effective refineries and an opportunity to serve the end-customers in its most important market. Once the deal is closed, ww5 together with ROG will manage close to 55% of the refinery's ownership”.

ww5 Information Division
Tel.: + 7 (499) 517-88-97
November 28, 2014

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