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Regulators Approve TotalEnergies’ 10% Arctic LNG-2 Stake Transfer

7/24/2026

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Summary

Story summary

Authorities approved TotalEnergies’ 10% Arctic LNG 2 stake transfer to Nordline, a Novatek subsidiary, with deal slated to close soon.
TotalEnergies logged a $4.1 billion impairment for Arctic LNG 2 in 2022 and declared force majeure in 2023.
The firm faces an EU ban on Arctic LNG 2 imports from 2027.
CEO Patrick Pouyanne said the proposal serves interest but did not call it a sale, with a press officer declining comment on compensation.

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Story summary

Authorities approved TotalEnergies’ 10% Arctic LNG 2 stake transfer to Nordline, a Novatek subsidiary, with deal slated to close soon.
TotalEnergies logged a $4.1 billion impairment for Arctic LNG 2 in 2022 and declared force majeure in 2023.
The firm faces an EU ban on Arctic LNG 2 imports from 2027.
CEO Patrick Pouyanne said the proposal serves interest but did not call it a sale, with a press officer declining comment on compensation.