TotalEnergies Shrugs Off Arctic LNG Exit, Shares Trade Near Highs

TotalEnergies stock has held up well despite its recent exit from Russia's Arctic LNG 2 project. The company transferred its 10% interest in the project to NordLine, a subsidiary of Novatek, reducing its direct exposure to Russian liquefied natural gas projects.

The move was made as geopolitical tensions and sanctions continued to affect energy investments. TotalEnergies' shares have been trading close to their recent highs, with a last intraday quote of $86.97 on August 28, 2026, up $0.67 or 0.78% from the previous close.

The company's Gabon upstream subsidiary reported net income of $6 million in Q2 FY26, down sharply by 87% from $45 million in Q1 FY26, due to a $69 million stock position variation and lower production.