Shell cited Russia’s invasion of Ukraine and said it would also end its involvement in financing the Nord Stream 2 pipeline, a natural gas pipeline project recently sanctioned by the U.S. Shell also owns a 27.5% stake in a major offshore gas venture in Russia’s far east that is 50% owned by Gazprom and supplies around 4% of the world’s liquefied-natural gas market.
Elsewhere, Norwegian energy company
Equinor AS
A said it would exit its Russian investments,
said it would stop sending components to its Russian joint-venture partner, and
said it would halt business in Russia. Separately,
Renault SA
shut down a factory near Moscow because it can’t get enough parts, and
Volkswagen AG’s
…
