Shell Invests in Russia as the Russians Invest in the UK

Oil giant Shell plans to increase investments in Russia despite losing control of the giant Sakhalin-2 project earlier this year.
“If we see other opportunities for setting up offshore joint ventures, then we will look at them without a doubt,” the company’s CEO, Jeroen van der Veer has said.
Van der Veer mentioned as investment possibilities other projects on the island of Sakhalin in far eastern Russia, as well as the Shtokman gas field project in the far north.
Shell is interested in investing “as much as possible in upstream” in Russia, as well as in “profitable downstream,” such as by creating a network of petrol stations in Russian cities, he said.
Meanwhile, the Russian gas monopoly Gazprom said yesterday it was about to close a deal that would increase its presence in Britain.
Alexander Medvedev, Gazprom’s deputy chief executive, said at an economic forum in St Petersburg yesterday: “In the near future there will be a deal to further increase the customer base on the British market. Anyone who will be in London for the Wimbledon tennis tournament will know about it.”

Are the Russian’s buying the tennis tournament? Of course not, Gazprom has long been tipped to buy Centrica, the owner of British Gas.