Gazprom and Shell discuss joint prospects under Agreement of Strategic Cooperation
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in Moscow today.
The meeting addressed a wide range of issues related to bilateral partnership, with a focus on prospects for collaboration under the Agreement of Strategic Cooperation signed by the two companies in 2015.
Royal Dutch Shell is a British-Dutch oil and gas company focused on hydrocarbon production, processing and marketing in over 90 countries worldwide.
Gazprom and Shell are jointly engaged in the Sakhalin II project, which includes Russia's only active LNG plant. The Sakhalin II operator is Sakhalin Energy Investment Company Ltd. (Gazprom – 50 per cent plus one share, Shell – 27.5 per cent minus one share, Mitsui – 12.5 per cent, and Mitsubishi – 10 per cent). In 2015, Gazprom and Shell signed the Memorandum to construct the third production train of the LNG plant, as well as the Agreement of Strategic Cooperation providing for the expansion of the companies' joint project portfolio, including a potential asset swap.
In June 2016, Gazprom and Shell signed the Memorandum of Understanding on the Baltic LNG project. The document reflects the parties' intention to explore the prospects for cooperation within the project.