Shell plc announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas in a phased manner, aligned with new government guidance. As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also shut its service stations, aviation fuels and lubricants operations in Russia.Unless directed by governments, Shell will Immediately stop buying Russian crude oil on the spot market and Shell will not renew term contracts At the same time, in close consultation with governments, Shell is changing our crude oil supply chain to remove Russian volumes. Shell will do this as fast as possible, but the physical location and availability of alternatives mean this could take weeks to complete and will lead to reduced throughput at some of our refineries Shell will shut our service stations, aviation fuels and lubricants operations in Russia. Shell will consider very carefully the safest way to do this, but the process will start immediately. Shell will start our phased withdrawal from Russian petroleum products, pipeline gas and LNG. This is a complex challenge. Changing this part of the energy system will require concerted action by governments, energy suppliers and customers, and a transition to other energy supplies will take much longer.This announcement follow’s Shell’s decision last week that it intends to end its involvement in the Nord Stream 2 pipeline project and exit its equity partnerships with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture.
Shell plc announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas in a phased manner, aligned with new government guidance. As an immediate first step, the company will stop all spot purchases of Russian crude oil. It will also shut its service stations, aviation fuels and lubricants operations in Russia.Unless directed by governments, Shell will Immediately stop buying Russian crude oil on the spot market and Shell will not renew term contracts At the same time, in close consultation with governments, Shell is changing our crude oil supply chain to remove Russian volumes. Shell will do this as fast as possible, but the physical location and availability of alternatives mean this could take weeks to complete and will lead to reduced throughput at some of our refineries Shell will shut our service stations, aviation fuels and lubricants operations in Russia. Shell will consider very carefully the safest way to do this, but the process will start immediately. Shell will start our phased withdrawal from Russian petroleum products, pipeline gas and LNG. This is a complex challenge. Changing this part of the energy system will require concerted action by governments, energy suppliers and customers, and a transition to other energy supplies will take much longer.This announcement follow’s Shell’s decision last week that it intends to end its involvement in the Nord Stream 2 pipeline project and exit its equity partnerships with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture.
