TotalEnergies has completed the transfer of its 10% stake in the Arctic LNG 2 project, according to Oil & Gas 360. The company transferred its interest to NordLine, a subsidiary of Novatek.
This transaction signifies TotalEnergies' formal exit from the Arctic LNG 2 project. The transfer of the stake was a key step in the company's disengagement from the venture.
The Arctic LNG 2 project is a significant development in the liquefied natural gas sector. TotalEnergies' involvement and subsequent exit have been closely watched by industry observers.
Novatek, through its subsidiary NordLine, has now acquired the 10% interest previously held by TotalEnergies. This move consolidates Novatek's position within the project.
