Gazprom and Shell Sign Arctic Cooperation Memo Targeting Russian Shelf
1 report, 1 independent
Updated Mon 00:00
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What happened
On October 5, 2026, Gazprom and Royal Dutch Shell plc signed a memorandum for cooperation targeting Russia’s Arctic shelf. This agreement was signed by Royal Dutch Shell plc chairman Jorma Ollila and Gazprom chief Alexey Miller. The partnership follows Shell’s announcement that it would pause its Alaskan Arctic drilling program 40 days earlier.
Why it matters
The cooperation memo allows Shell to pursue a new Arctic frontier through the Russian state company that took control of Sakhalin II. This move is parallel to another agreement between Shell and Gazprom Neft targeting liquids-rich shale in Western Siberia.