Putin approves payment to Shell over Russia exit

The British energy company walked away from the Sakhalin-2 LNG project last year Russian President Vladimir Putin has approved a request by Novatek to transfer 94.8 billion rubles ($1.21 billion) to Shell for its stake in the Sakhalin-2 liquefied natural gas (LNG) project, business daily Kommersant reported on Tuesday, citing sources familiar with the matter. Novatek, which is Russia’s second-largest natural gas producer, said on Monday that it had applied to acquire the 27.5% stake in the project owned by the UK-based energy giant. Sakhalin-2 is a major oil and gas development in Sakhalin Island in Russia's Far E

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