Why VB local variables can be 'static', not 'shared'?

In Visual Basic .NET, I can see different keyword for the same^(?) concept:

• methods                 Shared
• properties              Shared
• class-level variables   Shared
BUT
• local variables         Static

Why there is Static and not Shared in case of local variables? Does different keyword indicate a different concept? Or is it only due to historical reasons?