S&P said that although the sum paid for the stake is large, the risks associated with the company's ambitious asset acquisition strategy have already been taken into account in Gazprom's ratings.
Gazprom CEO Alexei Miller said Thursday that Gazprom had been in talks with Shell on Sakhalin II and production of liquefied natural gas for two years.
British-Dutch oil major Shell said Thursday it sold Gazprom 27.5% of its shares, Mitsui sold 12.5%, and Mitsubishi 10% in the capital of Sakhalin Energy.
Sakhalin II comprises an oil field with associated gas, a natural gas field with associated condensate production, a pipeline, a liquefied natural gas plant and an LNG export terminal. Most of the LNG from the project will be exported to Japan, which is seeking to diversify its energy imports.
The two fields have estimated reserves of 150 million metric tons (1.1 billion barrels) of oil and 500 billion cubic meters of natural gas.
