Shell wants to get rid of stake in Russian LNG plant

Energy giant Shell reportedly is in talks with Chinese companies to sell its stake in a major Russian gas project. The London-listed company is speaking with Chinese state oil companies CNOOC, CNPC and Sinopec about its 27.5 percent stake in the Sakhalin II liquefied natural gas venture, British newspaper The Telegraph reported on Thursday. According to the report, talks centered on the possible sale of Shell’s stake to one, two or all three companies. However, Shell is said to be open to potential buyers outside China as well.