TotalEnergies completes the transfer of its 10% interest in Arctic LNG 2

Moscow, August 27 – Neftegaz.RU. TotalEnergies has completed the transfer of its 10% interest in Arctic LNG 2 to NordLine (a Novatek subsidiary). TotalEnergies is therefore no longer a shareholder in Arctic LNG 2.

As part of the transfer agreement, TotalEnergies retains its rights to be reimbursed by Arctic LNG 2 for its share of the loans provided by the shareholders to the project, for an amount of around US$ 1.3 billion. Such reimbursement might be implemented in the future subject to applicable sanctions.

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

About the Arctic LNG 2:

Location: offshore near the remote Gydan Peninsula in northern West Siberia.
Facility: consist of 3 production trains, and is designed to produce 19.8 million tons of LNG annually.
This is the 2nd large-scale LNG project led by NOVATEK, after Yamal LNG.

The resource base for Arctic LNG 2 is Utrenneye field. It is located in the Gydan Peninsula in YNAO approximately 70 km across the Ob Bay from Yamal LNG.