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A new 5-year partnership between Gazprom and Shell. The companies updated the agreement on strategic cooperation

The previous agreement of Strategic Cooperation between Gazprom and Shell was signed in 2015

A new 5-year partnership between Gazprom and Shell. The companies updated the agreement on strategic cooperation

Moscow, March 18 - Neftegaz.RU. Gazprom and British-Dutch Shell signed an agreement of Strategic Cooperation for a 5-year period.
The signing ceremony was held via a video link in the presence of Alexey Miller, Gazprom´s CEO, and Ben van Beurden, CEO of Shell.

The newly signed document expands the interaction between the 2 companies.
Particular attention will be given to such areas as research of energy markets, implementation of projects along the entire value chain, cooperation in digitalization of technologies, and reduction of greenhouse gas emissions.

Alexey Miller and Ben van Beurden reviewed the current achievements brought about by the cooperation between Gazprom and Shell.
In particular, Sakhalin 2 was discussed.
Last year, a record-high volume of LNG – over 11.6 million tons – was produced and shipped to customers under the project.

Special mention was made of the European energy sector decarbonization.
It was noted that natural gas, due to its eco-friendliness, can play a significant role in meeting Europe's climate goals.


Alexey Miller said:
  • Today, we have made a new step in the development of our cooperation
  • The very signing of the Agreement proves that our joint work has brought good results and that we establish ambitious goals for both the short term and the long term
  • Without any doubt, the experience we have accumulated guarantees us new future achievements
Gazprom and Shell are jointly engaged in the Sakhalin 2 project, which includes Russia's 1st LNG plant.
The project operator of Sakhalin 2 is Sakhalin Energy (Gazprom – 50% +1 share, Shell – 27.5% -1 share, Mitsui – 12.5% and Mitsubishi Corporation – 10%).

To read the news in Russian.

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