Gazprom and Shell prepare for exchange of assets

Shell plans to exchange a stake in one of its international projects for  a share of Gazprom's in the Sakhalin-3 project, reports the Bloomberg, referring to general director of Shel,l Ben van Bearden. "Russia has 25% of world gas reserves, and they are located very close to markets, which are familiar to us," - he added.

Representatives of Shell and Gazprom declined to comment.

The exchange of assets between Gazprom and Shell is provided by a strategic partnership agreement, which the companies signed at the St. Petersburg Economic Forum in June. Then chairman of the Gazprom’s Boadr Alexei Miller said that the set of assets for the exchange would be determined before the end of 2015, and the transaction itself would be able to take place in a year.