TotalEnergies has completed the transfer of its 10 per cent interest in Arctic LNG 2 to NordLine, a subsidiary of Novatek, following an announcement made alongside its second-quarter 2026 results.

The transaction means TotalEnergies is no longer a shareholder in the Arctic LNG 2 project.

Under the terms of the transfer agreement, TotalEnergies retains its rights to recover its share of shareholder loans provided to the project, estimated at approximately $1.3 billion.

However, any repayment will remain subject to applicable sanctions and regulatory restrictions.

TotalEnergies said the reimbursement could potentially take place in the future, depending on the prevailing sanctions regime and relevant approvals. -OGN/TradeArabia News Service