Financial Times announced “nightmare” output of Shell from Russian project

The British-Niderland Oil and Gas company Shell has begun the process of leaving the Sakhalin-2 LNG production project. About this, as RBC reports, writes Financial Times, referring to his sources.

The company is at an early stage of negotiations with the Chinese CNOOC, CNPC and Sinopec on the sale of its share of 27.5% in the project, according to ft.

One of the sources of Financial Times called the negotiations “nightmares.” He explained that Shell hopes to return at least part from an amount of up to $ 5 billion, which she may lose when leaving Russia. However, the source of the newspaper added, any deal with Chinese companies will most likely be concluded with a large discount, in addition, a special agreement between Russia and China will be required.

According to experts surveyed by the newspaper, other buyers, except for Chinese companies, are not for these assets.

Shell in February 2022 announced the decision to sell a share in joint ventures with Gazprom. She almost immediately began to transfer to other projects of employees who worked with the Russian oil and gas company