Shell in talks with Indian consortium to sell Russian LNG plant stake

LONDON: Shell is in talks with a consortium of Indian energy companies to sell its stake in a major liquefied natural gas plant in Russia, three sources told Reuters, highlighting India’s willingness to step into the space left by Western companies following Moscow’s invasion of Ukraine.

The world’s third-largest oil importer and consumer has already stepped up purchases of Russian supplies since the conflict began in February, taking advantage of big discounts at a time when global oil prices have surged. The sources said Shell has recently entered into talks with a group of Indian companies, including ONGC Videsh and Gail , over its 27.5% stake in the Sakhalin-2 LNG plant on Russia’s eastern flank.