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Shell May Buy A$2 Billion Stake in Santos Project, Review Says

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By Rebecca Keenan

July 9 (Bloomberg) — Royal Dutch Shell Plc is in talks to buy a A$2 billion stake in Santos Ltd.’s Gladstone liquefied natural gas project in Australia, the Australian Financial Review reported, without saying where it got the information.

Shell may buy between 30 and 35 percent of the project, the newspaper reported. Korea Gas Corp. and China Petroleum & Chemical Corp., also known as Sinopec, are in talks with Santos to sign long-term sales agreements, it said.

Shell would become the operator of the Gladstone operation, according to the report.

To contact the reporter on this story: Rebecca Keenan in Melbourne at [email protected]

To contact the editor responsible for this story: Tim Smith at [email protected]

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