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Gazprom, Shell to invest $13 bln in projects in Russia - Russian Energy Minister

Reuters - UK Focus

ST PETERSBURG, Russia, June 16 (Reuters) - Energy major Shell (LSE: RDSB.L - news) and Russia's gas major Gazprom will jointly invest $13 billion in three projects in Russia, Russian Energy Minister Alexander Novak said on Thursday.

Novak said that Shell would take part in the development of Gazprom's Yuzhno-Kirinskoye gas field offshore Russia's Sakhalin island in the Pacific.

The two companies will also jointly invest in the Baltic Sea Liquefied Natural Gas plant and in the Sakhalin-2 LNG plant expansion. (Reporting by Denis Pinchuk and Olesya Ostakhova; writing by Lidia Kelly; editing by Polina Devitt)