LNG

Shell, the UK-based major and leading liquefied natural gas trader, said it intended to exit joint ventures in Russia including its almost one-third stake in the Sakhalin-II LNG export project in the Russian Far East and the suspended Nord Steam II pipeline project connecting Russia with German via the Baltic Sea.

Royal Dutch Shell has signed a further agreement with Russian natural gas company Gazprom to make progress on plans to build a liquefied natural gas export plant on the northwest Russian coast to supply global markets.