Gazprom and Shell agree to deepen cooperation

The document stipulates main areas of further cooperation development between the companies in the Russian and international energy market, among them:
    * further strengthening of bilateral cooperation in hydrocarbons exploration and production in Russia's Western Siberia and Far East;
    * developing joint activities in hydrocarbons processing and distribution in Russia and Europe as well as involvement of Gazprom in Shell's oil and gas exploration and production projects in third countries.
“The accords reached constitute an outstanding example of developing a mutually beneficial strategic partnership between the largest global energy companies. Looking ahead, we expect new large-scale contracts and growing joint presence in new markets,” declared Alexey Miller.
“The signed Protocol evidences close partnership relations that our companies have built up over recent years. Russiais an important area for new energy development for Shell and I expect it will play a big role in meeting the world's growing demand for oil and gas in the years ahead,” mentioned Peter Voser.
The meeting resulted in the decision to introduce working groups for a detailed study of cooperation areas stipulated in the Protocol.
Shell is a British-Dutch petroleum company focused on hydrocarbons production, processing and marketing in over 90 countries of the world.
On April 18, 2007 Gazprom and the shareholders of Sakhalin Energy (Royal Dutch Shell plc, Mitsui & Co. Ltd, and Mitsubishi Corporation), the Sakhalin II project operator, signed the Purchase and Sale Agreement under which Gazprom acquired a stake of 50 per cent plus one share in Sakhalin Energy.
As part of the project, Russia's first LNG plant was commissioned in early 2009 paving the way for Russian LNG exports to foreign consumers. In 2010 the plant reached the nominal capacity of 9.6 million tons per annum.