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Shell maintains long-term contract to purchase LNG from Novatek

The company also noted that it "still holds a 27.5% (minus one share) interest in Sakhalin Energy Investment Company Ltd. (SEIC), a Bermudan entity, which purportedly no longer holds any licenses, rights and obligations in Sakhalin-2"

MOSCOW, March 14. /TASS/. Shell continues to maintain a long-term contract for the purchase of liquefied natural gas (LNG) from Novatek, the company said in its annual report.

"Shell still holds one long-term LNG purchase contract with a Novatek entity," the report said.

The company also noted that it "still holds a 27.5% (minus one share) interest in Sakhalin Energy Investment Company Ltd. (SEIC), a Bermudan entity, which purportedly no longer holds any licenses, rights and obligations in Sakhalin-2." "In February 2023, Shell noted that SEIC had renounced a long-term LNG purchase contract by failing to perform, meaning the contract stood terminated," the statement said.

In 2023, Shell reported that all contracts for the purchase of Russian pipeline gas, oil, and oil products from Russia were completed by the end of 2022. The company's supplies of liquefied gas from the Sakhalin-2 project have also been stopped.

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