The Board of Directors of the British oil and gas company Shell has decided to withdraw from all joint ventures established with Gazprom and related organizations. This was reported in a Shell press release.
“We are shocked by the loss of life in Ukraine, which we sympathize with, as a result of a senseless act of military aggression that threatens European security. We cannot and will not stand by,” said the chief Shell CEO Ben van Beurden.
As of the end of 2021, Shell had about $3 billion of non-current assets in our country.
This includes a 27.5% stake in the Sakhalin-2 oil and gas project, a 50% stake in Salym Petroleum Development, which develops the Salym group of oil fields in Western Siberia, and a stake in the Gydan Energy joint venture, which owns licenses on the Gydan Peninsula in the Arctic.
Shell also intends to terminate its participation in the Nord Stream 2 gas pipeline project.