Lukoil to Buy 9.99% Stake in Shah Deniz Gas Project After Downgrading Deal With Petronas
December 10 2021 - 5:43AM
Dow Jones News
By Jaime Llinares Taboada
Lukoil PJSC said Friday that it will acquire a 9.99%
shareholding in the Shah Deniz natural-gas project offshore
Azerbaijan from Petronas instead of the 15.5% stake previously
announced.
The Russian energy company said the original deal was amended
after negotiations with project partners on the implementation of
pre-emptive rights.
As a result, the transaction value for Lukoil has been reduced
to $1.45 billion from $2.25 billion.
The deal is expected to close in January.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
December 10, 2021 05:28 ET (10:28 GMT)
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