Gazprom Buys Control in Shell’s Sakhalin Project
Russia’s gas monopoly Gazprom will buy 50 percent plus one share in Sakhalin-2 oil and gas project for $7.45 billion, Shell said on Thursday.
The statement said Gazprom would become the leader of the $22 billion project, while the previous leader Shell would contribute to management and act as technical advisor.
Shell and Japanese partners Mitsui and Mitsubishi will each dilute their stakes by half to accommodate Gazprom, leaving them with 27.5 percent, 12.5 percent and 10 percent respectively.
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