TotalEnergies completed the transfer of its 10% interest in the Arctic LNG 2 project to NordLine.
NordLine operates as a subsidiary of the Russian energy firm Novatek.
The move confirms the French major is no longer a shareholder in the sanctioned liquefied natural gas venture.
Management first disclosed the exit during the company's second-quarter 2026 results presentation.
TotalEnergies retains the right to be reimbursed for approximately $1.3 billion in shareholder loans.
Sanctions create uncertainty regarding the timing and feasibility of this capital recovery.
Future repayment remains subject to applicable international trade restrictions.