Shell in talks to sell wind stake

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The British oil company pulled out of the project to build a vast windfarm in the Thames Estuary east of London in time for the 2012 Olympics, saying it would be able to make more money out of windfarm projects in North America.

That led to predictions that the project would never get off the ground. But today it emerged that Shell is in talks with its two partners on the scheme to sell them its stake in it. Danish state-controlled oil and gas group Dong Energy and German utility E.On would like to press on with the project, according to the boss of Dong's generation division.

"We would like to buy their share, if the project is still profitable," he told the Danish press. "We are negotiating with Shell to buy their stake together with E.On."

However, he stressed the need for a rapid deal. "If the project must be completed in time for the Olympic Games, then something must happen very soon and a decision must be taken shortly."