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Russians put the kybosh on Shell over Sakhalin-2 project
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Wednesday December 20, 2006 20:48 by TJ - Shell to Sea
Gazprom is expected to buy a 30% stake in the world's largest liquefied gas project from Shell for about $4bn in cash Today's Guardian is reporting that : The state-owned Russian group,Gazprom, is close to taking control of Shell's Sakhalin-2 project with Shell chief executive Jeroen van der Veer making a third trip to Moscow in as many weeks to tie up the final details of the agreement. The Anglo-Dutch group was given a warning from ratings agency Fitch which said the surrender of its controlling stake in Sakhalin could damage Shell's financial credibility and undermine its attempts to rebuild its reserves. |
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