Shell Commited To Russia Expansion Despite Sanctions


NOVO-OGARYOVO, Russia, April 18 (Reuters) - Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions imposed on the country after its annexation of Ukraine's Crimea region.

Shell plans to expand Russia's only liquefied natural gas (LNG) plant with Russian partner Gazprom, he said at a meeting at Putin's residence.

"We, of course, will pledge all the necessary administrative guidance and support," Putin said in response in a meeting that was later broadcast on national television.

The United States and European Union have imposed targeted sanctions against a list of Russian and Ukrainian individuals and firms in retaliation for Moscow's annexation of Crimea last month.

EU and U.S. diplomats have indicated that they may consider wider sanctions against whole sectors of the Russian economy if Russian forces were to enter Ukraine.

"We are very keen to grow our position in the Russian Federation," van Beurden said. "We look forward with anticipation and confidence on a very long-term future here in Russia."

BP boss Bob Dudley said this week the sanctions had not impacted the company's business in Russia.


View Full Article

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Contract Administrator
Expertise: Contracts Administration
Location: Chesapeake, VA
Logistics Coordinator & Optimization Analyst
Expertise: Logistics Management
Location: Billings, MT
Associate Category Manager or Category Manager Job
Expertise: Logistics Management|Purchasing|Supply Chain Management
Location: Denver, CO
search for more jobs

Brent Crude Oil : $51.46/BBL 0.61%
Light Crude Oil : $50.52/BBL 0.64%
Natural Gas : $2.83/MMBtu 5.35%
Updated in last 24 hours