Shell is exiting the Ukrainian market.

Part of the Naftogaz group, PJSC "Ukrnafta" and the international company Shell have signed an agreement to acquire a 51% stake from LLC "Alliance Holding." Ukrnafta will become the majority owner of the Shell gas station network, which includes 118 operational gas stations, as well as other assets. This was reported by the press service of the Naftogaz Group.

In the coming days, Ukrnafta, identified as the winner of the competitive process, will jointly approach the Antimonopoly Committee with Shell to seek permission for the concentration, which is a mandatory condition for completing the agreement. After this, the company will be able to fully finalize the deal and acquire all rights and obligations of the shareholder.

"The Naftogaz Group has not only adapted to the conditions of war but is also growing stronger. We remain flexible and are unafraid to make decisions that will allow the state to generate revenue. Ukrnafta will become the majority owner of the gas station network, encompassing 118 operational gas stations, along with other assets." Ultimately, this will create additional financial inflows for the Naftogaz Group and will contribute to increased contributions to the state budget," noted the head of the Naftogaz Group, Oleksiy Chernyshov.

Shell ranks among the top 10 networks in terms of sales volumes in Ukraine: 118 operational gas stations, ranked 9th in fuel sales for the first half of 2023, and 7th in the number of gas stations, predominantly located in favorable zones with high traffic. The Supervisory Board of Ukrnafta approved the decision, as acquiring a business that has been led by a reputable international group for 15 years will ensure the expansion of Ukrnafta's gas station network and market share, aligning with the company's development strategy. A rebranding of all gas stations will take place within the year. The terms of existing B2B contracts will be fully respected. The company's staff of 1,550 employees working at the gas stations and headquarters will also be retained.

About Shell

Shell is a global group of energy and petrochemical companies operating in more than 70 countries, employing a total of 93,000 people. Shell, with a significant historical experience in fuel production, now utilizes the most advanced technologies and innovations to ensure a sustainable future. The company also invests in energy development (including low-carbon, as well as wind and solar energy) and new types of fuel for transportation (including advanced biofuels and hydrogen).