Shell announced plans to pull out from Russia after the country launched an invasion into neighboring Ukraine, making the multinational oil and gas giant the latest in a series of companies and organizations to embrace decoupling.
Shell will exit its joint ventures with Gazprom, the Russian state-owned energy corporation, and its related entities. This includes withdrawing from the 50 percent stake Shell holds in Salym Petroleum Development and the Gydan energy venture, two projects in Siberia, as well as the 27.5 percent stake in the Sakhalin-II liquefied natural gas (LNG) facility off Russia’s east coast.
