February 28, 2022
KEYSTONE 2:
BP abandons Russian oil company stake, Shell pulls out of Nord Stream 2 (TIM DE CHANT, 2/28/2022, ars Technica)
Shell announced today that it would be pulling out of the stalled Nord Stream 2 pipeline and looking to sell its stakes in various oil and gas projects in Russia as President Vladimir Putin's invasion of Ukrainian grinds on.The decision to exit the Nord Stream 2 investment comes days after German Chancellor Olaf Scholz effectively killed the project by suspending its certification. The Dutch company split about half the cost of the pipeline with four other European energy companies. Gazprom, the gas company controlled by the Russian government, covered the other half. Shell also owns significant stakes in two other oil and gas projects in Russia.
Posted by Orrin Judd at February 28, 2022 7:05 PM