Energy giant Shell is in talks with Chinese companies to sell its stake in a major Russian gas project amid sanctions imposed on Moscow, The Telegraph reported.

The London-based company is in talks with Chinese state oil companies CNOOC Ltd, CNPC and Sinopec to sell its 27.5 percent stake in the Sakhalin-2 liquefied natural gas plant.

Sakhalin-2 is controlled and operated by the Russian gas giant Gazprom. Other project participants include the Japanese company Mitsui & Co and Mitsubishi Corp.

Discussions with Chinese firms include a possible sale of Shell's stake to one, two or all three companies, the paper said, adding that Shell is open to potential buyers outside of China.

In February, Shell said it would end all of its operations in Russia, including the Sakhalin-2 LNG plant, following tougher sanctions on Moscow.

Earlier this month, the company said it would write off up to $5 billion in profits following its decision to leave Russia.