China Energy Giants in Talks for Shell’s Russian Gas Stake
- Cnooc, CNPC and Sinopec jointly discussing Sakhalin-2 purchase
- Shell said in February it would exit ventures with Gazprom
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China’s key state-run energy companies are in talks with Shell Plc to buy its stake in a major Russian gas export project, according to people with knowledge of the matter.
Cnooc, CNPC and Sinopec Group are in joint discussions with Shell over the company’s 27.5% holding in the Sakhalin-2 liquefied natural gas venture after the European firm said it would exit Russian operations following the Ukraine invasion, said the people, who requested anonymity to discuss private details.