Planet Ark: Shell in talks with China on Sakhalin gas deal
CHINA: August 30, 2004
SHANGHAI – Energy giant Royal Dutch/Shell is keen to sell liquefied natural gas LNG.L from its Sakhalin project to China, as it vies with rivals such as BP to tap the market’s potentially explosive growth.
But the world’s third-biggest oil group RD.AS SHEL.L will first have to overcome pricing issues and a still tiny market for supplies from the island development off eastern Siberia’s coast.
Shell, the biggest private supplier of LNG with sales of more than eight million tonnes per year, is ramping up efforts to tap a gas market expected to boom in coming years as Beijing inches toward cleaner fuels. Rival BP BP.L is hard on its heels.
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