Beijing Explores Shell’s Russian Gas Stake Purchase
By sweN TR
Beijing Explores Shell’s Russian Gas Stake Purchase
Three key state-run Chinese energy giants are reportedly in talks with Shell to buy out the company’s 27.5% stake in a massive Russian liquified gas project.
Sources cited by Bloomberg claim CNOOC, CNPC and Sinopec Group are discussing joint or individual buyouts of the Sakhalin-2 share, although negotiations are still in the early stages.
On Thursday, shares in Shell rose 1.3% in London on the back of the news, weeks after admitting it will lose around $5BN by walking out on its Russia operations.
