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Reuters: Shell and Gazprom to ink Russia asset swap deal – sources

Reuters: Shell and Gazprom to ink Russia asset swap deal – sources

“Russian gas monopoly Gazprom and Royal Dutch/Shell are expected to sign a preliminary Russian oil asset swap deal on Thursday, industry sources said.”: Wed Jul 6, 2005

TOKYO (Reuters) – Russian gas monopoly Gazprom and Royal Dutch/Shell are expected to sign a preliminary Russian oil asset swap deal on Thursday, industry sources said.

“They are expected to sign a term sheet on Thursday and continue talks to decide on the details of the deal,” one of the sources said.

In June, Gazprom said the companies were discussing a scheme under which Shell would invite Gazprom into its Sakhalin-2 liquefied natural gas project on Russia’s Sakhalin island.

In return, Gazprom, the world’s largest gas producer, would give Shell a stake in its West Siberian Zapolyarnoye field, which produces 100 billion cubic metres a year, according to Gazprom.

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