Putin approves sale of TotalEnergies Arctic LNG 2 stake
Russian President Vladimir Putin signed a decree authorizing the transfer of a 10% stake in the sanctioned Arctic LNG 2 project to a Russian entity. TotalEnergies has not yet commented on the potential divestment following the imposition of U.S. sanctions on the project earlier this year.
TOTALENERGIES SE will see its 10% stake in the Arctic LNG 2 project sold to Nordline LLC following a decree by Russia on Wednesday. The move marks a shift in ownership for the sanctioned liquefied natural gas development. TotalEnergies has not issued a statement on the sale, which follows the imposition of Western sanctions on the project.
### Putin Approves Arctic LNG 2 Stake Transfer Russian President Vladimir Putin signed the decree on Wednesday to authorize the transfer of the 10% interest. While the document identifies Nordline LLC as the buyer, the specific entity remains unconfirmed as two Russian firms share that name. Both are linked to Novatek, the project's majority owner with a 60% share.
