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Gazprom and Shell sign 5-year cooperation deal

Russia’s multinational energy corporation Gazprom and a British-Dutch oil and gas holding company Shell have signed an agreement of strategic cooperation for a five-year period, expanding the interaction between the two companies.

The signing ceremony was held via a video link in the presence of Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Royal Dutch Shell.

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 II was discussed. Last year, a record-high volume of liquefied natural gas – 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.

“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,” said Alexey Mille

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