RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2022-03-01 11:50:00

SHELL LEAVES GAZPROM

SHELL LEAVES GAZPROM

SHELLFeb 28, 2022 - 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 partners and humanitarian agencies to help in the relief effort.

“Our decision to exit is one we take with conviction,” said van Beurden. “We cannot – and we will not – stand by. Our immediate focus is the safety of our people in Ukraine and supporting our people in Russia. In discussion with governments around the world, we will also work through the detailed business implications, including the importance of secure energy supplies to Europe and other markets, in compliance with relevant sanctions.”

At the end of 2021, Shell had around $3 billion in non-current assets in these ventures in Russia. We expect that the decision to start the process of exiting joint ventures with Gazprom and related entities will impact the book value of Shell’s Russia assets and lead to impairments.

Shell’s Powering Progress strategy and financial framework remain unchanged. We reiterate our progressive dividend policy and intent to distribute 20-30 percent of CFFO to shareholders in the form of dividends and share buybacks while targeting a strong balance sheet with long-term AA credit metrics. We stepped up our distributions by announcing an $8.5 billion share buyback programme for the first half of 2022, and we expect to increase our dividend per share by 4 percent for the first quarter of 2022.

Notes to Editors

In 2021, Shell share Adjusted Earnings from Sakhalin Energy JV and Salym JV were $0.7 billion.

Sakhalin-2

Shell has a 27.5 percent interest in Sakhalin-2, the joint venture with Gazprom, an integrated oil and gas project located on Sakhalin island. Other ownership interests are Gazprom 50%, Mitsui 12.5%, Mitsubishi 10%.

Salym

Shell has a 50 percent interest in Salym Petroleum Development N.V., a joint venture with Gazprom Neft that is developing the Salym fields in the Khanty Mansiysk Autonomous District of western Siberia.

Nord Stream 2

Shell is one of five energy companies which have each committed to provide financing and guarantees for up to 10% of the estimated €9.5 billion total cost of the project.

Gydan

A joint venture With Gazprom Neft (Shell interest 50%) to explore and develop blocks in the Gydan peninsula, in north-western Siberia. The project is in the exploration phase, with no production.

-----

Earlier:

 ROSNEFT, SHELL DEAL
2021, November, 18, 13:00:00
ROSNEFT, SHELL DEAL
Rosneft exercised the pre-emption right for 37.5% share of the PCK (Schwedt) refinery from Shell.
 
 LIMITED OIL GAS PRODUCTION
2021, November, 12, 12:25:00
LIMITED OIL GAS PRODUCTION
At the end of 2019, combined oil output from ExxonMobil, BP, Shell, Chevron, TotalEnergues, Equinor, ConocoPhillips, and Eni stood at 13.3 million b/d, or about 13% of total global supplies,
 
 SHELL LOSS $400 MLN
2021, November, 1, 13:20:00
SHELL LOSS $400 MLN
Third quarter 2021 income attributable to Royal Dutch Shell plc shareholders was a loss of $0.4 billion, which included non-cash charges of $5.2 billion due to the fair value accounting of commodity derivatives and post-tax impairment charges of $0.3 billion, partly offset by net gains on sale of assets of $0.3 billion.

 

 

Tags: SHELL, GAZPROM
Chronicle:
SHELL LEAVES GAZPROM
2022, June, 24, 11:34:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
SHELL LEAVES GAZPROM
2022, June, 24, 11:33:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
SHELL LEAVES GAZPROM
2022, June, 24, 11:30:00
RUSSIAN OIL PROTECTION
Certification by the Indian Register of Shipping (IRClass), one of the world's top classification companies, provides a final link in the paperwork chain - after insurance coverage - needed to keep state-owned Sovcomflot's tanker fleet afloat and delivering Russian crude oil to overseas markets.
SHELL LEAVES GAZPROM
2022, June, 24, 11:20:00
U.S. LNG EXPORTS DOWN BY 17%
Freeport LNG is one of seven LNG export facilities operating in the United States.
SHELL LEAVES GAZPROM
2022, June, 24, 11:15:00
ЭНЕРГИЯ РУССКОЙ АРКТИКИ
Обсуждалось строительство газовозов и танкеров-челноков. В частности, 15 газовозов запланированы к постройке на судоверфи «Звезда». В планах – строительство дополнительных судов для транспортировки продукции инвесторов по Севморпути.
SHELL LEAVES GAZPROM
2022, June, 24, 11:10:00
U.S. SMR FOR POLAND
Last Energy's SMR technology is based on a pressurised water reactor with a capacity of 20 MWe or 60 MWt.
SHELL LEAVES GAZPROM
2022, June, 24, 11:05:00
PAKISTAN ENERGY CRISIS
This is the third time this month that Pakistan failed to complete an LNG tender for July, and the country’s inability to purchase fuel threatens to exacerbate electricity shortages just as hotter weather boosts air conditioning and power demand.
All Publications »