Three Chinese energy firms are in talks to buy Shell's stake in a huge Russian natural gas export project, a report says
Three Chinese state-run energy companies are in talks to buy Shell's 27.5% stake in a huge Russian natural gas export project, BloombergCNOOC, CNPC, and Sinopec are in joint discussions with the Anglo-Dutch oil and natural gas giant over its holding in theThe sources said discussions, which could include selling the stake to one, two, or all three of the firms, were at an early stage and could still fall through.
One of the sources said that Shell was also open to talks with potential buyers outside of China.that Sakhalin-2 supplies about 4% of the world's current liquefied natural gas market, with Japan, South Korea, and China as the main customers. Russian state-owned energy giant Gazprom owns a 50% stake in the venture, while Japanese corporate group Mitsui owns 12.5%, and fellow Japanese firm Mitsubishi holds 10%.