Shell cuts business ties with Gazprom, abandons Nord Stream 2

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The Board of Shell plc (“Shell”) today announced its intention to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also intends to end its involvement in the Nord Stream 2 pipeline project.

“We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security,” said Shell’s chief executive officer, Ben van Beurden. Shell’s staff in Ukraine and other countries has been working together to manage the company’s response to the crisis locally. Shell will also work with aid... ... More: Official Press Release Shell

Keywords:

Shell, war, Russia, Ukraine, Gazprom, joint venture, Nord Stream 2, Germany, Europe, security, safety, Sakhalin-2, business, Gydan, Salym