The Anglo-Dutch firm shell announced this Monday, February 28, that they will leave all the joint projects they have with the Russian giant Gazprom as a claim for the war in Ukraine.
In a statement, they indicated that they will give up their 27.5% interest in the Sakhalin-II liquefied natural gas facility, as well as 50% in the Salym and Gydan oil projects in Siberia.
“Our decision to leave was made with conviction,” Shell CEO Ben van Beurden said in a statement broadcast to the press. London Stock Exchange.
Shell, which exploits both the Petroleum As the natural gashad been on Russian territory since the early 1990s, when he arrived to get involved in the project sakhalin.
A day earlier, BP indicated that its CEO, Bernard Looney, resigned from his 19.75% stake in the group Rosneft “effective immediately,” as well as another BP-appointed administrator, its former chief Bob Dudley.
The firm had been present for more than 30 years in Russia.
“The attack on Ukraine by Russia is an act of aggression that has tragic consequences in the region,” said the chairman of the board of directors of BPHelge Lund.
The reactions were immediate and the company’s shares fell about 7% on Monday on the London Stock Exchange.
However, their decisions now put pressure on the remaining foreign investors, including Exxon Mobil Corp. and TotalEnergies SEfrom France.
Russia runs out of partners
According to Bloomberg, Russiasupplier of about 10% of the world’s oil and more than 15% of its gas, will increasingly go it alone.
“Overnight, Russia has lost Western partnerships that took decades to build,” said Ahmed Mehdi, an analyst at Renaissance Energy Advisors, a consultancy.
Equinor-ASANorway’s largest oil producer, has also said it will abandon all of its business in Russia.
Source: Larepublica
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