Russia's government has approved the sale of Shell's former 27.5 percent stake in the Sakhalin-2 energy project to Russian energy firm Novatek for 94.8 billion rubles ($1.16 billion), a government order showed on April 12. Russian President Vladimir Putin gave his consent for the transfer of the required funds to Shell, the Russian daily Kommersant reported last week. Following Moscow's decision to send troops into Ukraine in February 2022, Shell said it would quit the Sakhalin-2 oil and gas development on Sakhalin Island. To read the original story by Reuters, click here.
Russia's Novatek To Acquire Shell's Stake In Sakhalin-2 For $1.16 Billion
A drilling rig on Russia's Sakhalin Island (file photo)