MOSCOW – Russia’s second-largest oil producer Lukoil has closed a deal to buy a 9.99% stake in Azerbaijan’s Shah Deniz natural gas project from Malaysian oil and gas company Petronas for $1.45 billion, it said on Friday.
Lukoil had been set to buy a 15.5% stake from Petronas for $2.25 billion but reduced the transaction after other project 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 owning 19%, SOCAR 14.35%, NICO 10% and SGC the remaining 6.67%.
(Reporting by Katya Golubkova; Editing by David Goodman)