Shell to Exit Joint Ventures With Gazprom, Citing Russia Invasion of Ukraine
1 min read 
Shell cited Russia’s invasion of Ukraine in its announcement.
Photo:
David Paul Morris/Bloomberg News
LONDON—
PLC said it would exit its joint ventures with Russian energy giant
PJSC, a day after
PLC said it would divest its nearly 20% stake in Russia’s state-controlled oil producer
Shell cited Russia’s invasion of Ukraine and said it would also end its involvement in financing the Nord Stream 2 pipeline project, a natural gas pipeline project recently sanctioned by the U.S.
Shell owns a 27.5% stake in a major offshore gas project in Russia’s far east that is 50% owned by Gazprom and supplies around 4% of the world’s liquefied-natural gas market.
Write to Jenny Strasburg at jenny.strasburg@wsj.com
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