TotalEnergies SE has completed the divestment of its 10% stake in Russia’s Arctic LNG 2 project, transferring the participation to NordLine, a subsidiary of Novatek. The move follows the announcement made during the company’s second-quarter 2026 results presentation.
Under the terms of the agreement, TotalEnergies retains the right to reimbursement of approximately $1.3 billion, equivalent to its share of shareholder loans extended to the project. The company confirmed the completion of the transfer in a statement released on August 27, 2026.
Arctic LNG 2 is a liquefied natural gas facility located in Russia’s Arctic region. The project’s future reimbursement obligations remain subject to applicable sanctions frameworks, which may impact the timing and feasibility of the $1.3 billion claim.
