TotalEnergies completes transfer of 10% Arctic LNG 2 stake to Novatek subsidiary
Key highlights
- TotalEnergies has completed the transfer of its 10% interest in Arctic LNG 2 to NordLine, a Novatek subsidiary.
- TotalEnergies is no longer a shareholder in Arctic LNG 2.
- TotalEnergies retains rights to be reimbursed for its share of shareholder-provided loans, about US$1.3 billion.
- Any reimbursement may be implemented in the future subject to applicable sanctions.
Transaction completed
TotalEnergies confirms the transfer of its 10% interest in Arctic LNG 2 to NordLine, a Novatek subsidiary, has been completed and that it is no longer a shareholder in the project. The company had flagged the move during its presentation of the 2nd Quarter 2026 results.
Reimbursement rights
As part of the transfer agreement, TotalEnergies retains rights to be reimbursed by Arctic LNG 2 for its share of loans provided by the shareholders, for an amount of around US$1.3 billion. Such reimbursement might be implemented in the future subject to applicable sanctions.
Source: TotalEnergies
