Shell withdraws from JV with Gazprom, quits from N Stream 2

MOSCOW, Mar 1 (PRIME) -- British–Dutch oil giant Shell has decided to withdraw from the Nord Stream 2 gas pipeline project, as well as its joint ventures with Russia’s Gazprom and Gazprom Neft, including the Sakhalin-2 project, Shell said in a statement on Monday.

Shell owns 27.5% in the Sakhalin-2 liquefied natural gas plant and 50% in Salym Petroleum and has taken part in carrying out the Nord Stream 2 project.

The company said its decision is motivated by the events in Ukraine.

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