The court allowed Gazprom Neft to sell a stake in the Salym project to its structure
[ad_1]
The Arbitration Court of the Moscow Region fully satisfied the claim of Gazprom Neft for the sale of a stake in the Salym project to its structure GPN – Middle East Projects. This is stated in card affairs.
On December 12, Gazprom Neft asked the court to allow Shell to sell its stake in the Salym project to its structure GPN – Middle East Projects. GPN-Salym Projects asked to allow Shell Salym Development BV to dispose of a 50% stake in the authorized capital of Salym Petroleum Development LLC and to carry out transactions and actions for its alienation in favor of GPN-Middle East Projects LLC.
In August, the court granted the application of GPN – Salym Projects to transfer Salym Petroleum Development NV (SPD), a joint venture with Shell, to Russian jurisdiction. The court decided to transform SPD into the Russian branch of OOO Salym Petroleum Development. The current shareholders of SPD will become co-owners in equal shares: GPN Salym Projects LLC and Shell Salym Development BV
The rights of Shell Salym Development BV associated with participation in Salym Petroleum Development LLC, including the right to demand the redemption of its share and dispose of it, were suspended by the court until the end of 2023.
In September, a branch of the Dutch joint venture between Gazprom Neft and Shell was registered in Russia as OOO Salym Petroleum Development.
On February 28, Shell announced its intention to phase out all joint projects with Russia.
[ad_2]
Source link
