TotalEnergies Completes Exit from Arctic LNG 2 and Retains Right to Reimbursement of $1.3 Bn
The oil and gas group has completed its full exit from the Russian gas project Arctic LNG 2. However, it retains a right to reimbursement of shareholder loans estimated at approximately 1.3 billion dollars, with payment remaining subject to sanctions regulations.
Divestment of 10% Stake to NordLine, a Novatek Subsidiary
TotalEnergies confirmed on August 27, 2026 that the transfer of its 10% stake in Arctic LNG 2 to NordLine, a subsidiary of Novatek, has been finalized. The group is no longer a shareholder in the project.
This completion had been indicated during the presentation of results for the second quarter of 2026.
Right to Reimbursement of $1.3 Bn Maintained
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As part of the transfer agreement, TotalEnergies retains its rights to reimbursement by Arctic LNG 2 of its share of shareholder loans provided to the project, approximately 1.3 billion dollars.
According to the press release, this reimbursement could take place in the future depending on applicable sanctions.
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Context
Period
Period: 1T2026
Key reported figures
Revenue: 5394M$
EBITDA: 12552M$
Net income: 5810M$
Free cash flow: 8600M$
Guidance from the release
Portée par une croissance organique de sa production de 4 % sur un an.
TotalEnergies affiche des résultats en forte hausse au premier trimestre 2026.
Risks mentioned
Conflit au Moyen-Orient affectant la production.
Augmentation du besoin en fonds de roulement de 5,1 G$.
Opportunities identified
Croissance organique de production de 4 %.
Finalisation de la fusion de ses actifs au Royaume-Uni.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
