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Will Royal Dutch Shell Be Forced to Skedaddle From Russia?

Screen Shot 2013-10-01 at 07.59.11Extract from a Motley Fool article by David Smith published 21 July 2014 under the headline: “Will ExxonMobil, BP, and Royal Dutch Shell Be Forced to Skedaddle From Russia?”

Amid a crescendo of calls in Washington for the imposition of severely tightened sanctions on Moscow, following last week’s tragic shoot-down of a Malaysian airliner over Ukraine, I’m wondering whether in, say, six months, the likes of ExxonMobil, BP, and Royal Dutch Shell, will retain permission to work side-by-side with Rosneft and other Russian state-controlled energy companies.

Shell has a 27.5% interest with Gazprom in Sakhalin-2 on a desolate, eponymously named island in the Sea of Okhotsk, to Russia’s east. Until 2006 Shell operated the project, but late that year it was forced to sell much of its then majority interest to Gazprom, for what was generally agreed to be a pittance, relative to the $20 billion the company had already invested in the project.

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