Shell intends to comply with sanctions regime against Russia

President and country chair at Shell Russia Olivier Lazare said the company does not abandon its plans.

The Anglo-Dutch group Shell will comply with the sanctions regime against Russia in the framework of asset swap with gas giant Gazprom, president and country chair at Shell Russia Olivier Lazare told journalists Wednesday.

Answering the question about Yuzhno-Kirinskoye field in the framework of the planned asset swap deal with Gazprom, Lazare said that the company does not abandon its plans, continues negotiations, but it must comply with the sanctions regime.

The United States extended its sector sanctions against the Russian economy to the Gazprom’s Yuzhno-Kirinskoe oil and gas field in the Sea of Okhotsk on August 7. These are the first Western sanctions against Gazprom. From now on Western equipment cannot be exported to Russia for the development of this field.

Yuzhno-Kirinskoe gas condensate field in the Sea of Okhotsk was discovered in 2010. The field scheduled for commissioning in 2018 is the resource base for the further development of the Sakhalin-2 project.

First published by TASS.

All rights reserved by Rossiyskaya Gazeta.

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