Bloomberg reported on Thursday, Apr 21, that three China state-own energy companies want to buy Shell’s Russian gas stake.

Currently, Shell holds a 27.5% stake in the major Sakhalin-2 liquefied natural gas export venture.

Three China firms’ discussions are at an early stage with Shell. They include Cnooc, CNPC, and Sinopec.

The European oil firm can sell its stake to one, two or a consortium of all three.

Earlier, Shell said it would exit Russian operations after Russia invaded Ukraine.

In contrast, China wants to deepen ties with Russia in various fields.

In the statement on Tuesday, Vice Foreign Minister Le Yucheng said that no matter how the international landscape may change, China will continue to strengthen strategic cooperation with Russia.

Sign up to receive our latest news!

By submitting this form, I agree to the terms.