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Reuters: Gazprom to pay cash for Sakhalin stake – Interfax

Wed Dec 20, 2006 3:06am ET

MOSCOW, Dec 20 (Reuters) – Russia’s gas monopoly Gazprom (GAZP.MM: Quote, Profile , Research) will pay cash for a stake in the Royal Dutch Shell-led (RDSa.L: Quote, Profile , Research) Sakhalin-2 oil and gas project, Interfax quoted deputy energy minister Andrei Demetyev as saying on Wednesday.

Russian officials have said Gazprom was looking to acquire around 50 percent in Sakhalin-2 from Shell and its Japanese partners, Mitsui (8031.T: Quote, NEWS , Research) and Mitsubishi (8058.T: Quote, NEWS , Research).

© Reuters 2006. All Rights Reserved.

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