Royal Dutch Shell (Britain, Netherlands) plans to acquire 33.3% of Gazprom's share in the Arctic Shelf in exchange for the same share of Shell, RIA Novosti reports.
Russian President Vladimir Putin met Prime Minister of the Netherlands Mark Rutte on Monday and signed a memorandum of joint development of hydrocarbons in the Arctic Shelf of Russia. Gazprom wants licenses for the shelf on the crossing of the Chukotskoye and Vostochno-Sibirskoye Seas and another one in the Barents Sea. Gazprom will get 66.7% of share in the project and Shell will get 33.3%.
Gazprom head Alexey Miller said on Monday that the document signed with Shell was a framework agreement.
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