TotalEnergies completes exit from Arctic LNG 2, transfers 10% stake

(WO) — TotalEnergies has completed the transfer of its 10% interest in the Arctic LNG 2 project to NordLine, a subsidiary of Novatek, formally ending its ownership in the project.

The company had previously disclosed the planned transfer while reporting its second-quarter 2026 results. Following completion of the transaction, TotalEnergies is no longer a shareholder in Arctic LNG 2.

Under the transfer agreement, TotalEnergies retains the right to reimbursement from Arctic LNG 2 for its share of shareholder loans provided to the project, totaling approximately $1.3 billion.

Any future repayment would remain subject to applicable sanctions, TotalEnergies said.

See also: Putin approves TotalEnergies exit from Arctic LNG 2 project