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Gazprom and Shell sign an Agreement of Strategic Cooperation

Russia’s gas giant Gazprom signed an Agreement of Strategic Cooperation with British-Dutch oil and gas holding company Shell for a five-year period.

“We have made a new step in the development of our cooperation,” said Alexey Miller, Chairman of the Gazprom Management Committee. “The very signing of the Agreement proves that our joint work has brought good results and that we establish ambitious goals for both the short term and the long term. Without any doubt, the experience we have accumulated guarantees us new future achievements.”

The newly signed document expands the interaction between the two companies, which are currently engaged in the Sakhalin II project, which includes Russia’s first LNG plant. Particular attention will be given to such areas as research of energy markets, implementation of projects along the entire value chain, cooperation in digitalisation of technologies and reduction of greenhouse gas (GHG) emissions.

Reviewing the current achievements brought about by the cooperation between Mr Miller and Ben van Beurden, CEO of Shell discussed the record-high volume of liquefied natural gas – over 11.6 million tons – produced and shipped to customers under the Sakhalin II project last year.

Special mention was made of the European energy sector decarbonisation. It was noted that natural gas, due to its eco-friendliness, can play a significant role in meeting Europe’s climate goals.

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