ST. PETERSBURG, June 3. /TASS/. Russian President Vladimir Putin signed a decree authorizing Nordline LLC to acquire 10% in the Arctic LNG 2 project from France’s TotalEnergies.
The document was posted on the legal information portal. Nordline is a subsidiary of Novatek, established in May of this year.
"To authorize Nordline Limited Liability Company to complete a transaction of acquiring 10 percent of the shares in the charter capital of the Arctic LNG 2 Limited Liability Company, owned by TotalEnergies EP Salmanov," the document states.
Arctic LNG 2 is the second large-scale project of Novatek for the production of liquefied natural gas after Yamal LNG. Project participants are Novatek (60%), TotalEnergies (10%), China’s CNPC (10%) and CNOOC (10%), as well as Japan Arctic LNG (10%, of which 25% owned by Mitsui and 75% by JOGMEC). The project provides for the construction of three process trains of liquefied natural gas with the capacity of 6.6 million metric tons per year.
On November 2, 2023, the U.S. Department of the Treasury included Arctic LNG 2 in its sanctions list.