Shell expects to obtain permit for JV with Gazprom Neft in Q1 2020

TASS Russian News Agency | Jan 17, 2020 at 12:04 PM

MOSCOW, January 17. /TASS/. Shell looks forward to get an approval from Russian authorities for a joint venture with Gazprom Neft in the first quarter of 2020, said Cederic Cremers, Executive Vice President and Country Chair Russia at Shell.

"I think we will get the permit in the first quarter of this year," the top manager said.

The company also expects that the deal will be completed in the first half of 2020, Cremers noted.

In November 2019, the Russian government commission on foreign investments resolved to postpone the deal approval by three months because of the need to clarify certain technical and economic points in the partnership.