Shell agrees with Gazprom Neft to sell its stake in Salym Petroleum

Inspenet, February 6, 2023

The oil multinational Shell reported that it had signed an agreement with the Russian company Gazprom Neft to sell its 50% stake in the Salym Petroleum Development business alliance.

“On December 22, 2022, Shell signed documents with Gazprom Neft for the sale of its 50% stake in Salym Petroleum Development Limited Liability Company,” the statement said.

The company indicated that the conclusion of this agreement is subject to a series of approvals in Russia.

Last February, the oil company Shell decided to end its participation in the Nord Stream 2 gas pipeline project and exit its capital partnerships with Gazprom and related entities, including its 27.5% stake in the liquefied natural gas facility ( LNG) Sakhalin-II, as well as the 50% stake in Salym Petroleum Development and Gydan Energy Venture.

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