Shell announces that it will withdraw from its projects in Russia with Gazprom due to the invasion of Ukraine

The Anglo-Dutch hydrocarbons giant Shell announced on Monday that it is separating itself from its participation in several joint projects with the Russian group Gazprom in Russia due to the Russian invasion in Ukraine.

Previously, BP had done the same.

Like BP, shell maintained in these two decades a presence in Russia despite growing geopolitical tensions, having setbacks but maintaining cordial relations with the authorities.

shell invested in the controversial Nord Stream 2 pipeline from which it hopes to part ways.

“Our decision to leave was made with conviction”assured the director general of shellBen van Beurden, in a statement transmitted to the London Stock Exchange.

“We are shocked by the loss of human life in Ukraine, which we regret, the result of a senseless act of military aggression that threatens European security,” he declared.

In total, its parts were worth $3 billion at the end of 2021 and accounted for an adjusted profit of $700 million last year.

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