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October 11th, 2004:

Gazprom holding talks with Shell

Financial Times: Gazprom holding talks with Shell

“Other than providing cash, strategic support, or a commitment to future capital investment, Gazprom could offer Shell access to other projects in Russia…”

By Andrew Jack in Moscow

Published: October 11 2004

Gazprom, the Russian state-backed gas monopoly, might take a significant equity stake in the Sakhalin 2 oil and gas project managed by Royal Dutch/ Shell by the end of the year.

John Barry, president of Shell Exploration and Production Services for Russia told the Financial Times there had been “intense discussions” in recent months with Gazprom and put the chances of a deal by the end of 2004 at 50:50.

The deal would bring to an end a period during which some of Russia’s most significant energy projects were controlled by foreign groups. read more

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