Environment and Energy
Putin Clears TotalEnergies Exit From Arctic LNG 2 as Russia's Sanctioned LNG Project Faces Shipping Hurdles
Russian President Vladimir Putin authorized France's TotalEnergies to sell its 10% stake in Arctic LNG 2 to Russian company Nordline. The move marks a significant Western exit from Russia's gas sector since the Ukraine invasion. Arctic LNG 2 remains constrained by Western sanctions, vessel shortages, and export restrictions, preventing the project from reaching its originally planned 19.8 million metric tons of LNG annual production capacity.
