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Russia: Novatek to acquire Shell's stake in Sakhalin-2 for $1.16 bln


12 Apr 2023

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Russia's government has approved the sale of Shell's former 27.5% stake in the Sakhalin-2 energy project to Russian energy firm Novatek for 94.8 billion roubles ($1.16 billion), according to a Reuters report.

Following Russia's invasion of Ukraine, Shell announced February 28 2022 its intention to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also said it intended to end its involvement in the Nord Stream 2 pipeline project.

Click here for full Reuters article

Source: Reuters





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