Shell gives finger to Gazprom

Shell is to exit its $3bn joint ventures with Russian state energy firm Gazprom, a day after BP said it would offload its 20% stake in Kremlin-owned oil firm Rosneft, as British businesses scrambled to distance themselves from Putin.

The planned sales include its 27.5% stake in the Sakhalin-II liquefied natural gas facility, its 50% stake in the Salym Petroleum Development and the Gydan energy venture.

Shell will also end its involvement in the Nord Stream 2 pipeline project, in which it holds a 10% stake worth $1bn. Germany, which was due to double its Russian gas imports via the pipeline, had recently called a halt to the project in the light of Russia’s invasion of Ukraine.…


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