Shell to sever Gazprom links in Ukraine crisis

Shell is to end all of its joint ventures with the Russian energy company Gazprom following the invasion of Ukraine.

The move will include the oil giant's 27.5% stake in a major liquefied natural gas plant.

Shell's chief executive, Ben van Beurden, said the company is "shocked by the loss of life in Ukraine".

It follows similar moves by BP, which is to offload its share in Russian state-owned oil firm Rosneft.

Shell will quit the flagship Sakhalin II facility, which is 50% owned and operated by Gazprom.

It also plans to end its involvement in the Nord Stream 2 gas pipeline from Russia to Germany, which it helped finance among a mix of other companies.

Mr van Beurden added that the company "deplores" the crisis unfolding in Ukraine, "resulting from a senseless act of military aggression which threatens European security".