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Shell to strengthen Russian hand through Gazprom asset swap

Published Tue, Aug 4, 2015 · 09:50 PM
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London

ROYAL Dutch Shell Plc will swap a stake in one of its international energy assets for part of Gazprom PJSC'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 chief executive officer Ben Van Beurden said last week in London. For Shell, the prize is greater involvement in the world's biggest gas reserves.

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