Russia could sell China majority stakes in onshore energy projects

Russian Deputy Prime Minister Arkady Dvorkovich

Russian Deputy Prime Minister Arkady Dvorkovich

Russia could sell China majority stakes in onshore energy projects: Russia is seriously considering allowing Chinese concerns to acquire controlling stakes in some of its onshore oil and gas fields, the country’s Deputy Prime Minister Arkady Dvorkovich told the Krasnoyarsk Economic Forum last week. He stressed, however, that they would only be allowed to buy minority stakes in strategic offshore fields within Russia’s portion of the Arctic shelf; last November, Rosneft entered into a framework agreement with China’s CNPC to sell off 10% of its the Eastern Siberia Vankor Field complex for a reported $1bn and offered a further 10% to India’s Oil and Natural Gas Corp (ONGC).

Source: Lenta