Skip to main content

Frequently asked questions

Updated 3 July 2023

 

Following the invasion of Ukraine by Russia, Shell announced on February 28, 2022, its intent to withdraw from its joint ventures in Russia with Gazprom and related entities, including a 27.5% stake in the venture owning the Sakhalin-2 liquefied natural gas (LNG) facility and 50% stakes in Salym Petroleum Development and the Gydan energy venture. Shell also announced its intent to end involvement in the Nord Stream 2 pipeline project. See the full announcement here.

On March 8, 2022, Shell announced its intent to withdraw from involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and LNG in a phased manner, aligned with government guidance. Shell also announced that it would immediately stop all spot purchases of Russian crude and would also shut its service stations, aviation fuels and lubricants operations in Russia. See the full statement here.

Shell has followed the intent of the announcements in full compliance with sanctions, applicable laws and regulations of the countries in which it operates.

These actions led to recognition of charges of a total of $4.2 billion in 2022, mainly relating to impairments and write-downs.

Some frequently asked questions relating to these announcements are addressed below.