Shell will exit all its Russian operations, including a major liquefied natural gas plant, it said on Monday, becoming the latest major Western energy company to quit the oil-rich country following Moscow's invasion of Ukraine.
Shell said in a statement it will quit the flagship Sakhalin 2 LNG plant in which it holds a 27.5% stake, and which is 50% owned and operated by Russian gas giant Gazprom .Sakhalin 2, located off Russia's northeastern coast is huge, producing around 11.5 million tonnes of LNG per year, which is exported to major markets including China and Japan.
For Shell, the world's largest LNG trader, leaving the project deals a blow to its plans to supply gas to fast-growing markets in the coming decades.The company also plans to end its involvement in the Nord Stream 2 Baltic gas pipeline linking Russia to Germany, which it helped finance as a part of a consortium of companies. Germany last week halted the project.Shell said the decision to quit the joint ventures in Russia will lead to impairments.
"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," Shell Chief Executive Ben van Beurden said in a statement.Together, Salym and Sakhalin 2 contributed $700 million to Shell's net earnings in 2021.
"Right decision by the Board of Shell to exit its Russian ventures," Adam Matthews, chief responsible investment officer for the Church of England Pensions Board, which invests in Shell, said in a LinkedIn post.Other Western companies including global bank HSBC and the world's biggest aircraft leasing firm AerCap said they plan to exit Russia as Western governments ratchet up economic sanctions on Moscow.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Russia-Ukraine live updates: Ukraine, Russia at Belarus border for talksLATEST: As Ukrainian and Russian delegations meet for talks, an immediate ceasefire and a “neutral status” are the key items to be discussed, officials say.
Consulte Mais informação »
Russia-Ukraine live updates: Ukraine says Russia will be disconnected from SWIFTGerman Chancellor Olaf Scholz announces Germany is dropping its historic position of not providing lethal military aid to conflict zones, saying Russia's 'invasion marks a turning point.'
Consulte Mais informação »
Russia-Ukraine live updates: Putin puts nuclear forces on high alert; Ukraine announces talks with RussiaUkrainians held Kyiv and Kharkiv as Putin's invasion intensified, and President Volodymyr Zelensky accused Russia of attacking civilians.
Consulte Mais informação »
Russia-Ukraine live updates: Ukraine rejects Russian offer for talks in BelarusFighting intensifies in Kharkiv, with Russia claiming Ukrainian surrenders
Consulte Mais informação »
US to send missiles to Ukraine; Ukraine agrees to meet with Russia on Monday - live updatesRussian troops have reached Kharkiv, Ukraine. The EU says it will finance military equipment to help Ukraine, and the U.S. approved sending missiles.
Consulte Mais informação »
US to send missiles to Ukraine; Ukraine agrees to meet with Russia on Monday - live updatesRussian troops have reached Kharkiv, Ukraine. The EU says it will finance military equipment to help Ukraine, and the U.S. approved sending missiles.
Consulte Mais informação »