Royal Dutch Shell said it was eyeing opportunities to expand in a new “more open” Russia, as it unveiled a 25pc slump in profits, hit by lower energy prices.



By
Emily Gosden, Energy reporter 7:00PM BST 26 Jul 2012
Royal Dutch Shell is eyeing opportunities to expand in a new “more open” Russia, its chief executive said today, as he unveiled a 25pc slump in the oil major’s profits, hit by lower energy prices.
Peter Voser confirmed that discussions were ongoing about future liquefied natural gas (LNG) projects in Russia.
The company is said to be in talks about joining the huge Shtokman LNG project in the Russian Arctic, with state-controlled Gazprom.
“We have a very successful venture with Gazprom in eastern Siberia. I think our credentials are clear,” Mr Voser said. “From a strategic point of view we are open to further investments in Russia and therefore are looking at opportunities either [in] oil or LNG. We have talked with the various players. Those talks include Gazprom.” read more
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