Kremlin orders seizure of gas facility which Shell has 27 per cent stake in worth £3.4bn
Jul 1st, 2022
by John Donovan.
CITYA.M.
Kremlin orders seizure of gas facility which Shell has 27 per cent stake in worth £3.4bn
Russia’s President Vladimir Putin has ordered the seizure of a gas facility in the county which UK firm Shell has a 27 per cent stake in.
The Kremlin signed a decree to take control of rights of the Sakhalin-2 plant, which will be transferred into Russian hands.
This comes as Moscow continues to come under severe economic pressure with sanctions, while countries including the UK, Germany and other EU states have been urged to stop buying fuel from Russia, amid its war against Ukraine.
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Posted in: Big Oil, Business ethics, Business Principles, Fossil Fuels, Gas, Gas-to-liquids, Gazprom, Germany, LNG, President Putin, Royal Dutch Shell, Royal Dutch Shell Plc, Russia, Sakhalin II, Shell, Shell Energy, Shell PLC.
Tagged: Gas · Gazprom · Royal Dutch Shell Plc · Russia · Shell