TotalEnergies announced on August 27, 2026 that its 10% interest in Arctic LNG 2 had been transferred to Novatek subsidiary NordLine. The company stated that it was no longer a shareholder in the project.
The agreement preserves repayment rights for approximately $1.3 billion of shareholder loans. Any future reimbursement remains subject to applicable sanctions. The amount is not cash already received or a disclosed price for the transferred shares.
In an IEA scenario, electricity could cost-effectively supply 33 percent of final energy use by 2035; projected import savings are not realized outcomes.
The utility’s long-term plan projects lower emissions despite rising electricity demand; its solar, battery and reverse-osmosis targets are not completed outcomes.
Emirates News Agency (WAM), citing Emirates Water and Electricity Company (EWEC)4 min read
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