Gazprom, Shell expand cooperation with 5-year agreement

Gazprom and Shell signed a 5-year agreement of strategic cooperation in which attention will be given to research of energy markets, implementation of projects along the value chain, cooperation in digitalization of technologies, and reduction of greenhouse gas emissions.

Gazprom and Shell are currently jointly engaged in the Sakhalin II project, which includes Russia's first LNG plant. The project operator, Sakhalin Energy is comprised of Gazprom (50% plus one share), Shell (27.5% minus one share), Mitsui & Co. Ltd (12.5%), and Mitsubishi Corp. (10%).

Last year, a record-high volume of liquefied natural gas—over 11.6 million tons—was produced and shipped to customers under the project.

The previous agreement of strategic cooperation between Gazprom and Shell was signed in 2015.