Shell to Exit Baltic LNG Oroject
Royal Dutch Shell has decided to exit the Baltic liquefied natural gas (LNG) project led by Russian gas producer Gazprom in the Leningrad region, the chairman of Shell's Russian unit said on Wednesday.
"Following Gazprom's announcement on March 29 regarding the final development concept of Baltic LNG, we have decided to stop our involvement in this project," Cederic Cremers, Shell Russia's chairman, said.
Shell said earlier on Wednesday it was studying the possible implications of a recent decision by Gazprom to move towards the full integration of its Baltic LNG and gas processing plants.
(Reporting by Vladimir Soldatkin; Writing by Tom Balmforth; editing by Kirsten Donovan)