Russia decides to confiscate oil fields from Shell
Gazprom Neft accused the British oil company Shell of interfering with the work of their joint project and suggested that the court freeze its share. Shell announced the suspension of activities in Russia after the start of a military operation in Ukraine.
About it writes “Kommersant” with reference to the lawsuit, which is considered by the Arbitration Court of the Moscow Region. The lawsuit was filed by the subsidiary of Gazprom Neft, GPN-Salym Projects. Together with Shell, she developed the Salym Petroleum Development joint project.
Now the company is demanding a major venture with Shell from the Netherlands in Russia and freezing the shares of the British company until 2024. Gazprom Neft says that Shell is blocking the work of the project, including the one fulfilling the Western mandate for a military compressor in Ukraine.
In particular, Shell introduced an offer to sell oil to its subsidiary Shell Trading, the volume of oil sales to the second shareholder GPN-Salym Projects and direct legal entities does not pay for delivery in May “at the direction of Shell Salym”. Almost all of these actions are explained by blocking EU sanctions against Gazprom Neft, which have been implemented since May.
Earlier, the court banned Shell from holding events with shares in the joint venture or exit from it. The British company is looking for ways to exit the project. However, the sale of the stake must be approved by President Vladimir Putin. Corresponding Putin’s decree on marriage on August 5.
The joint venture with Shell was established in 1996. It estimates the reserves of the Salym group. Six fields are located in the Nefteyugansk region of the Khanty-Mansiysk Autonomous Okrug – Yugra. The region accounts for 42% of the entire Russian share of oil. At the end of February of this year, Shell left Russia. She estimated the loss at $4 billion.