NordLine has been approved to buy the stake from TotalEnergies EP Salmanov, a unit of TotalEnergies, the decree signed by Vladimir Putin and posted on Russia’s official portal for legal acts on Wendesday shows.
The decree did not provide further details regarding the sale or NordLine.
However, according to the Russian register, Novatek formed NordLine LLC last month.
LNG Prime invited TotalEnergies to comment on the matter.
Besides a stake in the Arctic LNG 2 project, TotalEnergies also has stakes in Novatek and the Yamal LNG project.
In December 2022, TotalEnergies wrote down its 19.4 percent stake in Novatek and withdrew the representatives of the company from the board of Novatek.
In January 2024, TotalEnergies initiated a force majeure process on the Novatek-operated Arctic LNG 2 project.
The Arctic 2 LNG project, in which Novatek holds a 60 percent operating stake, has been severely impacted by sanctions imposed by the EU and the US.
Novatek delivered the second gravity-based structure platform from its yard near Murmansk to the site of the Arctic LNG 2 project located on the Gydan peninsula in August 2024.
The company completed the second GBS despite sanctions by the US, the EU, and the UK related to the Arctic LNG 2 project and LNG carriers.
The first GBS left the Belokamenka yard in July 2024, and Novatek completed the installation on the underbase foundation on the seabed at the Utrenniy terminal in August of the same year.
The first and second GBS each have a capacity of about 6.6 mtpa.
