Who is acquiring TotalEnergies' 10% stake in Arctic LNG 2, and what is known about the buyer?

According to the decree approved by Russian President Vladimir Putin, a company named Nordline is acquiring TotalEnergies' 10% stake in the sanctioned Arctic LNG 2 project; however, the document provides no details about Nordline or the terms of the transaction.

What stake does TotalEnergies retain in Arctic LNG 2 after this sale, and how?

If finalised, TotalEnergies would still hold an indirect stake in Arctic LNG 2 because it owns 19.4% of Novatek — the private Russian liquefied natural gas company that holds a 60% majority stake in the project.

Putin approves sale of TotalEnergies' 10% stake in sanctioned Arctic LNG 2 project

Jun 3, 2026

Putin authorized TotalEnergies to sell its 10% stake in the sanctioned Arctic LNG 2 project to Nordline, with terms undisclosed. Total retains indirect exposure via Novatek ownership despite US sanctions.

reuters

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