Indian state-owned oil and gas company ONGC has decided to start negotiations on the purchase of Shell’s stake in the “Sakhalin-2” project. This is reported by The Economic Times, citing a source.

It is also noted that in addition to buying Shell’s stake, ONGC wants to buy ExxonMobil’s stake in the “Sakhalin-1” project.

The newspaper’s source pointed out that the Indian company wants to buy energy assets of the companies that decided to leave Russia after the start of the special operation in Ukraine. For example, Shell’s share in the “Sakhalin-2” project is 27.5%. ExxonMobil has a 30% stake in the project.

The Economic Times added that oil and gas companies ONGC, Bharat Petroleum and India Oil have started negotiations to buy British oil company BP’s stake in Russia’s “Rosneft”. Its size is 20%.