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2015-08-07 19:40:00

SHELL & GAZPROM EXCHANGE

SHELL & GAZPROM EXCHANGE

Royal Dutch Shell will swap a stake in one of its international energy assets for part of Gazprom's Sakhalin-3 project, as Europe's biggest oil company extends ties with Russia.

The companies are discussing which asset would be offered to Gazprom, Shell CEO Ben Van Beurden said last week in London. For Shell, the prize is greater involvement in the world's biggest gas reserves.

"Russia sits on 25% of the world's gas reserves and is very, very close to markets that we are very familiar with," Van Beurden said July 30, on the sidelines of the company's earnings presentation. Shell is also pushing "to see how we…

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Tags: RUSSIA, EUROPE, GAZPROM, SHELL, GAS

Chronicle:

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