Fossil Fuels

Shell Accused of Putting LNG Exports First — But Is Santos Throwing Stones from a Very Expensive Glasshouse?

Australia’s gas giants turn on one another over domestic supply, export profits and who should pay for the government’s proposed gas reservation scheme. Behind the corporate accusations lies a more uncomfortable question: why should a major gas-exporting nation struggle to guarantee affordable gas for its own citizens?

5 November 2026

By the Donovan–Shell Archive

There is something wonderfully revealing about the spectacle unfolding in Australia’s liquefied natural gas industry.

Three enormous gas-exporting businesses are arguing over who should be obliged to supply Australian customers. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 4 NOVEMBER 2026

THE SHELL LEAKS FILES — 4 NOVEMBER 2026

Archive reference: SLF-2007-108

The Sakhalin Papers XCVIII: The Account That Could Not Pay — Shell’s 94.8 Billion Roubles and Russia’s Compensation Dispute

AN INDEPENDENT DOCUMENTARY INVESTIGATION

By the Donovan–Shell Archive

Researched and drafted with the assistance of ChatGPT, using authenticated Shell financial disclosures, Russian government legal instruments, contemporaneous reporting and available records of proceedings before the Moscow Arbitration Court.

Russia assigned a value of 94.8 billion roubles to Shell’s former interest in the Sakhalin II project. It approved a buyer, changed that buyer, and ultimately transferred the corresponding interest in the replacement Russian operating company to a Gazprom subsidiary. But Shell did not simply receive the money. The explanation lies partly in the original presidential decree of June 2022, which expressly restricted access to sale proceeds pending government-controlled investigations. The financial dispute subsequently became entangled with an entirely separate claim concerning unpaid gas deliveries. Four years after Shell announced its withdrawal from Russia, the company’s own SEC disclosures still describe substantial uncertainty. An examination of the original legal instruments reveals that the restrictions on payment were not an unforeseen complication: they were built into the restructuring from the beginning. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 3 NOVEMBER 2026

THE SHELL LEAKS FILES — 3 NOVEMBER 2026

SLF-2007-107

The Sakhalin Papers XCVII: Thirty Days to Decide — Putin’s Decree, Japan’s Acceptance and Shell’s Refusal

AN INDEPENDENT DOCUMENTARY INVESTIGATION

By the Donovan–Shell Archive

Researched and drafted with the assistance of ChatGPT, drawing upon authenticated corporate disclosures, official government measures, contemporaneous reporting and the historical Donovan–Shell Archive.

On 30 June 2022, President Vladimir Putin signed a decree that fundamentally altered the ownership arrangements of the Sakhalin II oil and liquefied natural gas project. Foreign shareholders were required to seek Russian government approval to obtain equivalent interests in a replacement operating company. Japan’s Mitsui and Mitsubishi accepted the new arrangements and received approval. Shell refused, formally objecting to the transfer of the original operator’s assets and rights. But the decree contained another potentially consequential provision: Russia could investigate alleged damage caused by foreign shareholders and deduct compensation from the proceeds of their unclaimed interests. The authenticated documents reveal how a decision ostensibly about corporate restructuring became a mechanism through which the Russian state controlled continued participation, asset disposal and the treatment of sale proceeds. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

Shell Sells Its Australian LNG Legacy to Abu Dhabi for $1.45 Billion — But Its Gas Expansion Strategy Is Far From Over

AN INDEPENDENT DOCUMENTARY INVESTIGATION

Shell’s $1.45 billion North West Shelf disposal examined through corporate disclosures, financial analysis, historical records and Australian environmental decisions.

By John Donovan — 3 November 2026

Shell has agreed to sell its 16.67% interest in Australia’s historic North West Shelf gas project to subsidiaries of ADNOC’s international investment company XRG for US$1.45 billion, with a possible additional payment. The deal transfers associated decommissioning obligations and marks the departure of a founding investor from one of Australia’s most important LNG developments. Yet Shell is not retreating from natural gas. It continues to target annual LNG sales growth of 4–5% through 2030, while the North West Shelf project itself has secured permission to operate until 2070 despite environmental controversy. The transaction raises questions about capital allocation, future liabilities, climate responsibility and the changing international ownership of major energy infrastructure. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 2 NOVEMBER 2026

THE SHELL LEAKS FILES — 2 NOVEMBER 2026

SLF-2007-106

The Sakhalin Papers XCVI: The India Option — Shell’s Attempted Sakhalin II Sale and the Buyers Who Never Took Control

By John Donovan — 2 November 2026

On 26 May 2022, Reuters revealed that Shell was discussing the sale of its 27.5% stake in the Sakhalin II oil and liquefied natural gas project with a consortium of Indian energy companies. ONGC Videsh and GAIL were among those identified. Separate negotiations reportedly concerned valuable long-term LNG and crude-oil supply arrangements. For Shell, the talks offered a possible commercial route out of Russia following the invasion of Ukraine. But five weeks later, Vladimir Putin signed a presidential decree transferring Sakhalin II’s operations to a new Russian company. The Indian discussions never produced a completed acquisition. By March 2024, Russia had approved the transfer of the disputed 27.5% interest to a Gazprom subsidiary for 94.8 billion roubles. The money subsequently became entangled in a Russian lawsuit against Shell. Authenticated corporate filings, contemporaneous Reuters reporting and official Russian measures reveal how a proposed commercial exit became a struggle over ownership, compensation and legal rights. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 1 NOVEMBER 2026

THE SHELL LEAKS FILES — 1 NOVEMBER 2026

SLF-2007-105

The Sakhalin Papers XCV: The Molecule Problem — When Russian Crude Became “Indian Diesel” and Europe Rewrote the Rules

By John Donovan — 1 November 2026

On 5 May 2022, Shell chief executive Ben van Beurden acknowledged a fundamental weakness in efforts to exclude Russian petroleum from international markets. Once Russian crude had been refined in another country, he explained, there was no worldwide system capable of tracing individual fuel molecules back to their geological origin. Diesel produced in India from Russian crude could consequently be classified as Indian diesel. Four years later, the European Union has introduced legislation specifically targeting petroleum products refined in third countries from Russian crude. The authenticated Shell statements, contemporary Reuters reporting and subsequent EU legal instruments reveal how a problem identified publicly by Shell in 2022 became the subject of binding European import restrictions in 2026. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 31 OCTOBER 2026

THE SHELL LEAKS FILES — 31 OCTOBER 2026

SLF-2007-104

The Sakhalin Papers XCIV: The Blending Loophole — Russian Oil in Shell’s Supply Chain After the Apology

By John Donovan — 31 October 2026

On 8 March 2022, Shell apologised for purchasing discounted Russian crude oil and announced its intention to withdraw from Russian hydrocarbons. Yet its trading arrangements continued to permit purchases of certain refined petroleum products containing almost 50% Russian-origin material. Bloomberg exposed the practice in April. Ukraine’s government accused Shell of exploiting an accounting trick. Shell disputed the allegation that it was deliberately purchasing Russian products for blending and resale. On 27 April, Reuters reported that the company had tightened its trading terms to exclude refined products containing any Russian-origin material. The surviving corporate statements, contemporaneous trading reports and official sanctions records reveal what happened — and the important distinction between a contractual loophole, an actual purchase and an unlawful transaction. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

Shell CEO’s Shares Gain £4.7 Million During Iran War — Regulatory Filing Confirms €1.49 Million Share Sale as Oil Giant Reports $10.8 Billion Profits

Greenpeace says four leading oil executives have enjoyed nearly £19 million in increased shareholding value during the Iran conflict. Shell chief executive Wael Sawan accounts for more than £4.7 million of that estimate. But the most revealing evidence comes from Shell’s own regulatory disclosures, which confirm a substantial share disposal in May 2026.

By John Donovan — 30 October 2026

As the Iran conflict continues to disrupt international energy markets, new research by Greenpeace UK has drawn attention to the personal financial benefits experienced by some of the world’s most senior oil executives. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

Nord Stream Returns to the Headlines: Washington and Moscow Explore a Revival, but Brussels Says No — Where Does That Leave Shell?

By John Donovan — 28 October 2026

An extraordinary new chapter has opened in the Nord Stream controversy. Reuters reports that senior American and Russian figures have discussed bringing a US investor into the Baltic gas pipeline system. But the European Commission has responded with an unmistakable reminder: the European Union is legislating Russian gas out of its energy market. For Shell shareholders, the renewed controversy raises another question. What, if anything, remains recoverable from the $1.126 billion loan that Shell wrote down in 2022? read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 28 OCTOBER 2026

THE SHELL LEAKS FILES — 28 OCTOBER 2026

SLF-2007-101

The Sakhalin Papers XCI: The Security Report Withdrawn — How Germany’s October 2021 Approval Became a February 2022 Reversal

In October 2021, Germany’s economy ministry concluded that certifying Nord Stream 2 would not endanger European gas supplies. Its 54-page assessment acknowledged Russian state control of Gazprom, previous supply interruptions and objections from Poland and Ukraine. Four months later, Germany withdrew the assessment. The original document, subsequently released to the public, reveals what officials believed about Russian gas dependence before the invasion of Ukraine — and why the distinction between commercial infrastructure and geopolitical risk became so consequential for Shell’s investment.

Archive reference: SLF-2007-101
Publication date: 28 October 2026
Collection: The Sakhalin Papers — Shell, Gazprom and Russia
Previous instalment: SLF-2007-100, The Sakhalin Papers XC, 27 October 2026

Principal sources: German Federal Ministry for Economic Affairs, Security-of-Supply Assessment dated 26 October 2021; the ministry’s announcement dated 22 February 2022; Bundesnetzagentur certification proceedings BK7-21-056; Gas Transmission System Operator of Ukraine correspondence dated December 2021; the German-American joint statement of 21 July 2021; Court of Justice of the European Union judgment C-848/19 P; Shell’s original 2017 financing announcement; Shell’s announcement dated 28 February 2022; and Shell’s financial statements filed with the US Securities and Exchange Commission. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 25 OCTOBER 2026

THE SHELL LEAKS FILES — 25 OCTOBER 2026

SLF-2007-098

The Sakhalin Papers LXXXVIII: The Thirty-Day Exit — Washington’s October 2020 Sanctions Ultimatum and the Companies Caught Between Two Legal Systems

On 20 October 2020, the United States gave companies supporting Nord Stream 2 a sharply defined choice: end certain activities within 30 days or face potential sanctions. The warning extended to businesses supplying equipment, facilities and services to the vessels needed to complete the Russian gas pipeline. An examination of the original Federal Register notice, Shell’s financial disclosures, German parliamentary records and contemporaneous reporting reveals how Washington used an expansive interpretation of existing legislation to intensify pressure on a project already facing serious regulatory and political difficulties.

Archive reference: SLF-2007-098
Publication date: 25 October 2026
Collection: The Sakhalin Papers — Shell, Gazprom and Russia
Previous instalment: SLF-2007-097, The Sakhalin Papers LXXXVII, 24 October 2026
Principal sources: US Department of State Public Notice 11236; Federal Register, 5 November 2020; Protecting Europe’s Energy Security Act of 2019; German Bundestag parliamentary records; European External Action Service statements; Shell’s authenticated April 2017 financing announcement; Shell’s 2022 Annual Report filed with the US Securities and Exchange Commission; contemporary S&P Global and Reuters reporting; and subsequent US government sanctions records. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

Shell’s Green Future Moves to China — Just as Its German Battery Dream Goes Bust

China gets the promises, Germany gets the insolvency proceedings, and Shell gets to explain why both developments are entirely consistent with its energy-transition strategy.

25 October 2026

Shell has discovered an exciting new frontier in the global energy transition.

China.

A country where electric vehicles are booming, renewable-energy technologies are advancing rapidly, and international energy companies are understandably eager to participate.

On 22 October 2026, China Daily published an upbeat account of Shell’s plans to deepen its involvement in China’s energy transformation.

There were discussions of innovation, partnerships, cleaner technologies, charging infrastructure and a more sustainable future. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 20 OCTOBER 2026

THE SHELL LEAKS FILES — 20 OCTOBER 2026

SLF-2007-093

The Sakhalin Papers LXXXIII: The Energy Charter Treaty Trap — How a Gazprom-Owned Company Challenged the EU, and Where Shell Fits In

A 2019 arbitration notice, a 192-page investment claim, the European Union’s jurisdictional objections and an extraordinary legal complication: Brussels has now withdrawn from the very treaty under which the case was brought.

Archive reference: SLF-2007-093
Publication date: 20 October 2026
Collection: The Sakhalin Papers — Shell, Gazprom and Russia
Previous instalment: The Sakhalin Papers LXXXII, 19 October 2026
Principal sources: Shell corporate announcements and financial reports; Nord Stream 2 AG’s arbitration notice and memorial; the European Union’s September 2020 jurisdictional memorial; Permanent Court of Arbitration Procedural Order No. 4; EU judicial records; and contemporaneous Reuters reporting.
Evidence classification: Authenticated primary documents; recorded legal allegations and responses; judicial findings; and separately identified editorial commentary. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 19 OCTOBER 2026

THE SHELL LEAKS FILES — 19 OCTOBER 2026

SLF-2007-092

The Sakhalin Papers LXXXII: Gazprom’s Pipeline Takes Europe to Court — The Energy Charter Treaty, Secretive Arbitration and the Battle Over Billions

An investment dispute begun in 2019, a European court defeat, sanctions that interrupted the arbitration itself, and an extraordinary January 2026 order questioning the European Union’s explanations

Archive reference: SLF-2007-092
Publication date: 19 October 2026
Collection: The Sakhalin Papers — Shell, Gazprom and Russia
Previous instalment: The Shell Leaks Files — 18 October 2026
Principal evidence: Shell’s authenticated 2017 financing announcement and 2022 financial disclosures; Permanent Court of Arbitration Case No. 2020-07; Procedural Orders Nos. 18 and 19; European Union legislation; General Court judgments; and official records of subsequent legal proceedings.
Evidence classification: Authenticated corporate records, legislation and judicial decisions; documented submissions by opposing parties; independent legal reporting; and separately identified editorial analysis. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 18 OCTOBER 2026

THE SHELL LEAKS FILES — 18 OCTOBER 2026

SLF-2007-091

The Sakhalin Papers LXXXI: The Pipeline That Refuses to Die — Shell’s Gazprom Partnership, a Former Stasi Officer and the American Plans to Revive Nord Stream

Nine years after Shell helped finance Nord Stream 2, and four years after explosions crippled the Baltic pipelines, an extraordinary new chapter is unfolding. On 8 October 2026, Reuters reported discussions involving senior American and Russian figures about bringing US investors into the Nord Stream infrastructure. The reported participants included Jared Kushner, President Donald Trump’s son-in-law, and Kirill Dmitriev, a close adviser to Vladimir Putin. Germany immediately reiterated its opposition. Then, on 17 October, Russian Deputy Prime Minister Alexander Novak declared that restoring gas supplies through Nord Stream remained technically possible. Behind these developments lies a remarkable documentary trail: Shell’s original 2017 financing agreement, former East German intelligence officer Matthias Warnig’s leadership of Nord Stream 2, American sanctions, a $1.126 billion Shell write-down, Swiss restructuring proceedings and an increasingly complicated battle with European regulators. read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.

THE SHELL LEAKS FILES — 17 OCTOBER 2026

THE SHELL LEAKS FILES — 17 OCTOBER 2026

SLF-2007-090

The Sakhalin Papers LXXX: Who Pays for a Dead Pipeline? Shell’s $1.126 Billion Loss, a €579 Million Insurance Defeat and the Battle Over Nord Stream’s Financial Remains

Four years after explosions devastated the Nord Stream pipelines, the financial consequences continue to work their way through European courts. A remarkable judgment delivered by London’s High Court on 6 July 2026 rejected a €579 million insurance claim arising from the destruction of Nord Stream 1. In Switzerland, the operator of Nord Stream 2 has survived threatened bankruptcy through a court-approved agreement with creditors, including the Western energy companies that helped finance its construction. Meanwhile, a German court has refused to allow the pipeline operators to join the criminal prosecution arising from the sabotage as additional complainants. For Shell shareholders, these developments raise an important question: what became of the company’s $1.126 billion Nord Stream 2 financing exposure, written down months before the explosions? read more

*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, the Independent Shell Archive, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All conjured up by internet wizz, Nick Gill.