Shell, Exxon Not To Seek Compensation For End Of Groningen Gas Production

Energy companies Royal Dutch Shell Plc (NYSE: RDS.A) and Exxon Mobil Corp. (NYSE: XOM) will not submit a claim for missed revenue due to the Dutch government’s decision to halt gas production at the Groningen Field by 2030, the Dutch ministry of economic affairs said on June 25.

“A lot of gas will be left in the ground,” Economy minister Eric Wiebes said at the presentation of his deal with the oil majors responsible for extracting Groningen gas.

“That gas is the property of the oil companies, but they will not submit a claim and the government is not required to compensate them.”