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Benzinga
Benzinga
Business
Phil Hall

A Double Ouch For Gazprom: Shell, UEFA End Deals With Russian Energy Giant

Shell SHEL UEFA Champions League Gazprom Russia NYSE

Gazprom (OTC:OGZPY), the Russian-state owned energy giant which is also the world’s largest publicly-traded natural gas company, received a one-two punch Monday with Shell plc (NYSE:SHEL) terminating its development partnership and UEFA Champions League ending its sponsorship agreement.

Shell Signs Off: Shell’s board of directors announced its decision to close its joint ventures with the Russian company, including its 27.5% stake in the Sakhalin-II liquefied natural gas facility, its 50% stake in the Salym Petroleum Development and the Gydan energy venture. Shell’s board of directors also ended the company’s involvement in the Nord Stream 2 pipeline project.

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