The Russian Prosecutor General’s office is seeking over €1 billion ($1.09 billion) in damages from UK-based energy giant Shell over a failed joint venture, the Moscow Arbitration Court told the media on Tuesday.
Shell walked away from the Sakhalin-2 liquefied natural gas (LNG) project in 2022 following the start of the Ukraine conflict. The major oil and gas development on Sakhalin Island in Russia’s Far East includes the country’s first LNG plant.
Earlier this month, Russia’s Prosecutor General filed a lawsuit targeting eight subsidiaries of the Anglo-Dutch energy major, according to the court’s website. They are Shell plc, Shell Energy Europe Limited, Shell Global Solutions International B.V., Shell International Exploration & Production B.V., Shell Neftegaz Development, Shell Exploration & Production Services B.V., Shell Sakhalin Services B.V., and Shell Sakhalin Holdings В.V.
“They are seeking more than €1 billion in damages,” the court’s press service…