The company has started negotiations with Chinese companies to sell its stake.
British-Dutch oil and gas company Shell has started the process ” the nightmarish “exit from its largest LNG project in Russia” Sakhalin-2 “. The Financial Times writes about this, citing sources.
It is noted that Shell is trying to compensate for the losses it suffers due to the termination of Russia's activities. The company is in talks with China's Cnooc, CNPC and Sinopec to sell a 27.5% stake in the Sakhalin-2 field, but they only agree to the deal if they are given a big discount. As a result, these “painful” negotiations could lead to large losses for Shell.
However, there are no other buyers for these assets, the publication notes.
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