Russia Approves TotalEnergies' Stake Sale in Arctic LNG 2
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2026
0mins
Source: seekingalpha
- Stake Sale Approval: Russian President Putin has authorized TotalEnergies to sell its 10% stake in the U.S.-sanctioned Arctic LNG 2 project to Nordline LLC, a rare approval that highlights Russia's adaptability in the energy sector under Western restrictions.
- Indirect Stake Retained: Even if the sale is finalized, TotalEnergies will still hold an indirect stake in the project due to its 19.4% ownership in Russian LNG company Novatek, allowing the company to maintain influence in the project.
- Project Background: The Arctic LNG 2 project has a total investment of $21 billion and has been constrained by U.S. sanctions; although the facility has begun shipping fuel via shadow fleet vessels, its output remains significantly below intended capacity, reflecting the profound impact of Western sanctions.
- Western Company Stance: TotalEnergies is among the few major Western energy companies that retained stakes in strategic Russian projects after the invasion of Ukraine, and this stake sale may signify a strategic shift in its approach to the Russian market, aiming to mitigate risks and optimize its investment portfolio.
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Analyst Views on TTE
Wall Street analysts forecast TTE stock price to fall
16 Analyst Rating
8 Buy
8 Hold
0 Sell
Moderate Buy
Current: 82.120
Low
60.04
Averages
71.67
High
90.93
Current: 82.120
Low
60.04
Averages
71.67
High
90.93
About TTE
TotalEnergies SE is a France-based company. The Company is predominantly engaged in the business as a worldwide oil group. Its segment divisions are divided into refining and chemistry such as refining of petroleum products and manufacture of basic chemistry and of specialty chemistry, petroleum products distribution, electricity generation from combined cycle gas plants and renewable energies, gas production, trading, transport and distribution primarily includes liquefied natural gas, natural gas, biogas, hydrogen, liquefied petroleum gas and hydrocarbon operating and production. The group is also operating in trading and sea transport of crude oil and oil products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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