The global energy industry is experiencing a dual dynamic, with European energy companies adjusting their layout in the Russian market and overseas offshore service companies grabbing South American operation and maintenance orders. The pace of industry development continues to change.

Energy equity exit

On August 27, 2026, Total Energy completed the transfer of 10% equity in the Arctic LNG2 project in Russia, completely withdrawing from the shareholder list of the project, and the related equity was taken over by a subsidiary of Russian company Novatek. Total reserves the right to recover the $1.3 billion shareholder loan, and the repayment process must strictly comply with relevant sanctions rules. The project has an annual designed production capacity of 19.8 million tons of liquefied natural gas. Due to the impact of Western sanctions, the sales and operation of the project continue to be under pressure.

Expanding orders on offshore platforms

During the same period, Floatel International's Floatel Triumph semi submersible platform won a new offshore operation contract in Brazil. The 2016 construction platform will provide four to eight months of maintenance and safety services, with operations starting in the first quarter of 2027, further consolidating the company's market position in the Brazilian offshore service sector.Editor/Min Jing