Russian gas giant Gazprom and the world’s largest LNG firm Shell have signed a strategic cooperation deal as they look to further boost ties.
Gazprom’s Alexei Miller and Shell’s Ben van Beurden signed the five-year agreement during an online meeting on Tuesday.
The agreement puts focus on areas such as research of energy markets, implementation of projects along the entire value chain, cooperation in digitalization of technologies, and reduction of greenhouse gas emissions, according to a Gazprom statement.
The two CEOs discussed several topics during the meeting especially the Gazprom-operated Sakhalin-2 LNG export terminal where Shell has a 27.5 percent minus one share.
To remind, the facility in the port of Prigorodnoye produced and shipped record 11.6 million tonnes of LNG last year.
The duo also talked about the European energy sector decarbonization, where gas could play “a significant role” in meeting Europe’s climate goals, the statement said.