Novatek's Nordline to Acquire 10% Stake in Arctic LNG 2 from TotalEnergies
Novatek subsidiary may buy 10% in Arctic LNG 2 from TotalEnergies

Image: Тасс
Russian President Vladimir Putin authorized Nordline LLC, a subsidiary of Novatek, to acquire a 10% stake in the Arctic LNG 2 project from TotalEnergies. This project, which has a capacity of 6.6 million metric tons per year, is part of Russia's expanding liquefied natural gas sector.
- 01Nordline LLC was established in May 2023 as a subsidiary of Novatek.
- 02The Arctic LNG 2 project is a major liquefied natural gas initiative, following the Yamal LNG project.
- 03Current stakeholders in Arctic LNG 2 include Novatek (60%), TotalEnergies (10%), CNPC (10%), CNOOC (10%), and Japan Arctic LNG (10%).
- 04The project aims to construct three liquefaction trains with a total capacity of 6.6 million metric tons annually.
- 05Arctic LNG 2 was added to the U.S. Treasury's sanctions list on November 2, 2023.
Advertisement
In-Article Ad
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.
Advertisement
In-Article Ad
The acquisition of a stake in Arctic LNG 2 by Nordline could enhance Russia's position in the global liquefied natural gas market.
Advertisement
In-Article Ad
Reader Poll
What do you think about Russia's investment in Arctic LNG 2?
Connecting to poll...
Read the original article
Visit the source for the complete story.



