On June 3, 2023, Russian President Vladimir Putin signed a decree allowing Nordline LLC, a newly established subsidiary of Novatek, to acquire a 10% stake in the Arctic LNG 2 project from France's TotalEnergies. This decision was formalized in a document published on the legal information portal. The Arctic LNG 2 project represents Novatek's second major venture into liquefied natural gas production, following the Yamal LNG project. The project is a collaborative effort with several stakeholders: Novatek holds 60%, TotalEnergies has 10%, while China's CNPC and CNOOC each own 10%. Additionally, Japan Arctic LNG, which is comprised of 25% Mitsui and 75% JOGMEC, holds the remaining 10%. The Arctic LNG 2 project plans to construct three liquefaction trains, aiming for a total capacity of 6.6 million metric tons per year. However, the project faces challenges as it was included in the U.S. Department of the Treasury's sanctions list on November 2, 2023.