Shell has begun a “nightmare” withdrawal from the Russian Sakhalin-2 project

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    FILE - The tanker Sun Arrows loads its cargo of liquefied natural gas from the Sakhalin-2 project in the port of Prigorodnoye, Russia, Oct. 29, 2021, (AP Photo, File)

    DISCLOSURE: Sourced from Russian government funded media

    First published 24 April 2022, on NSN FM

    The exit from the Russian Sakhalin-2 project and, in general, due to the refusal of Russian energy resources turned into a “nightmare” for the British-Dutch oil and gas company Shell. The Financial Times, familiar with the situation, wrote about this on April 24.

    Shell owns a 27.5% stake in the project, which the company is obliged to sell to other participants due to the sanctions policy of the West. The loss from this decision for Shell will amount to $5 billion.



    The Chinese companies Cnooc, CNPC and Sinopec have expressed their readiness to buy shares in the Russian project – however, only if Shell makes a significant discount, Gazeta.ru writes .

    Earlier, Japan decided that it did not intend to withdraw from the Sakhalin-2 oil and gas project. This was stated by Prime Minister Fumio Kishida during his speech in Parliament.

     

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    4 COMMENTS

    1. they will retain an earned N interest Royalty.. they will not loose a dime ! shanghi will simply issue them a contingency coupon bond payment when the commies buy the bond @ 5%..

      thats a huge bargain over 5 or 20 yrs and them bonds are callable ! banks love em N canada.. RBS.. etc..

    2. China should offer a Dollar, in the US that is the minimum for a legal transaction. 1 dollar for 5 billion dollars in return sounds fair to me, Shell go “F” yourself!

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