Royal Dutch Shell and Gazprom have formed a strategic alliance little more than three years after an acrimonious dispute in which the multinational was forced to cede control of the giant Sakhalin II oil and gas project to the Russian company.
The deal will pave the way for two of the world’s biggest gas companies to deepen cooperation in Russia and work together in other countries.
The agreement, signed in Moscow on Tuesday, signals a recognition at the Russian company that it needs foreign allies to help globalise its gas business and expand further into oil.
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