Russia’s Lukoil spends $1.5 bln to raise stake in Azeri gas project

A 3D printed pure gasoline pipeline is positioned in entrance of displayed Lukoil emblem on this illustration taken, February 8, 2022. REUTERS/Dado Ruvic/Illustration

MOSCOW, Feb 18 (Reuters) – Russia’s second-largest oil producer Lukoil (LKOH.MM) has closed a deal to purchase a 9.99% stake in Azerbaijan’s Shah Deniz pure gasoline mission from Malaysian oil and gasoline firm Petronas for $1.45 billion, it mentioned on Friday.

Lukoil had been set to purchase a 15.5% stake from Petronas for $2.25 billion however diminished the transaction after different mission shareholders BP and Azeri SOCAR, claimed their pre-emptive rights.

After Friday’s completion of the deal Lukoil owns 19.99% in Shah Deniz, BP as operator controls 29.99%, with TPAO proudly owning 19%, SOCAR 14.35%, NICO 10% and SGC the remaining 6.67%.

Reporting by Katya Golubkova
Modifying by David Goodman

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