TotalEnergies Concludes Arctic LNG 2 Exit While Retaining $1.3B Loan Claim
French energy major TotalEnergies has finalized its withdrawal from Russia's Arctic LNG 2 venture, giving up its equity while maintaining claims on $1.3 billion in shareholder financing.
French energy group TotalEnergies has concluded its formal exit from the Arctic LNG 2 development in Russia, bringing an end to its equity participation in the major liquefied natural gas venture.
Under the terms of the withdrawal, the company has relinquished its ownership stake in the Arctic export installation, completing a key step in divesting its direct project interests in the country.
Despite surrendering its equity position, TotalEnergies has preserved its legal entitlement to recover an estimated $1.3 billion related to outstanding shareholder loans extended to the development.
Any future recovery or settlement of the $1.3 billion loan claim remains strictly dependent on compliance with applicable international sanctions regulations governing Russian energy infrastructure and financial transfers.
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