Shell in Talks with Chinese Firms to Sell Stake in Russian Gas Project: Report

The discussions with the Chinese firms include the potential sale of Shell’s stake in the Sakhalin-2 LNG venture, The Telegraph reported, adding that Shell is to be open to potential buyers outside China.

Reuters

Energy giant Shell Plc is in talks with some Chinese companies to sell its stake in a major Russian gas project amid sanctions imposed on Moscow over its invasion of Ukraine, The Telegraph reported on April 21.

The London-listed company is in joint talks with Chinese state-run oil companies CNOOC Ltd., China National Petroleum Corp. (CNPC) and Sinopec over its 27.5% holding in the Sakhalin-2 LNG venture, the British newspaper said.

Sakhalin-2 is controlled and operated by Russian gas giant Gazprom. Other stakeholders in the project include Japan’s Mitsui & Co. and Mitsubishi Corp.

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