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Gazprom wrests control of Sakhalin-2 gas project from Shell
by wsws (reposted)
The state-owned Russian energy conglomerate Gazprom has taken majority control of the multibillion-dollar Sakhalin-2 oil and gas project, previously majority-owned by the Anglo-Dutch firm Royal Dutch Shell. Months of negotiations, threats of legal action and government pressure from Russia, Japan, Britain and Holland ended on December 21 with Shell acquiescing to Gazprom’s offer of $4.1 billion for half of its previous 55 percent stake in the venture.

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