EventTotalEnergies has confirmed plans to sell its 10% ownership of Russia’s Arctic LNG 2 liquefied‑natural‑gas facility, now classified as a sanctioned, blacklisted asset, to Nordline, a Novatek subsidiary. The transfer—approved by Russian authorities—is expected to close soon amid growing sanctions pressure and an anticipated EU ban on Russian LNG imports in 2027.
TotalEnergies plans to sell its 10% share in the blacklisted Russian Arctic LNG 2 project, reflecting a shift by a major energy firm away from a sanctioned asset amid growing geopolitical pressures on Arctic liquefied natural gas development.
TotalEnergies announced it will exit its stake in the Arctic LNG 2 liquefied natural gas plant on Russia’s Yamal Peninsula, a decision that signals a substantial change in the company’s presence and investment strategy in the high‑latitude energy sector.
TotalEnergies is set to finalize a 10% sale of its Arctic LNG 2 stake to Nordline, following a $4.1 b writedown on Russian assets last year.
TotalEnergies will transfer its 10% stake in Russia’s Arctic LNG 2 plant to Novatek’s subsidiary Nordline after Russian approval. The change, driven by sanctions and an upcoming EU ban on Russian gas imports, is expected to finalize soon.
TotalEnergies has decided to divest its stake in the Russian Arctic LNG 2 liquefied natural gas plant, as announced by CEO Patrick Pouyanne. The exit reflects a broader reassessment of the company’s Arctic portfolio amid evolving geopolitical and market conditions.
TotalEnergies has agreed to sell its 10 % stake in Russia’s Arctic LNG 2 project, transferring it to Nordline, a Novatek subsidiary, as confirmed by the company’s CEO.
