The German concern E.ON has completely written off its share in Nord Stream
[ad_1]
The German energy concern E.ON has fully written off its 15.5% stake in Nord Stream AG, the operator of the Nord Stream gas pipeline. After the sabotage in the fall of 2022, supplies through the gas pipeline ceased.
In the annual report E.ON states that “under conditions of heightened uncertainty amid the damage to both Nord Stream 1 pipelines, the investments have been written down to their fair value of zero as at 31 December 2022.” Compared to December 31, 2021, this decrease is approximately €1.2 billion, the document notes.
Nord Stream AG is 51% owned by a Gazprom subsidiary, 15.5% by German Wintershall Dea and E.ON, and 9% each by French Engie and Dutch Gasunie.
At the beginning of November 2022, E.ON reduced its stake in Nord Stream AG by five times, to €100 million. Based on the results of last year, Engie estimated its stake in Nord Stream 1 at €90 million against €574 million a year before this. Germany’s Wintershall became the first company to fully write off its stake in Nord Stream 1 (€529 million), as well as loans issued to Nord Stream 2. March 8 on the write-off of its 9% stake in Nord Stream reported gas transportation company from the Netherlands Gasunie. Gazprom still retains the estimate of its share in the projects.
The explosions at Nord Stream 1 and the non-commissioned Nord Stream 2 occurred in September 2022. Three out of four pipelines were damaged, and gas leaks occurred. The European authorities called it a diversion, but still have not come to a conclusion who is behind them. Russian President Vladimir Putin considers the incident a terrorist attack.
Read more about resetting the value of shares of foreign shareholders – in the material “Kommersant” “Nord Streams disappear from reporting”.
[ad_2]
Source link
