Wintershall Dea to separate international business from JV RF by mid-2024 – Kommersant
[ad_1]
German oil and gas company Wintershall Dea announced its intention to separate its international business from Russian enterprises by mid-2024. This is stated in message on the company’s website.
“Our decision is clear: we are leaving Russia. The legal separation of our international business from Russian joint ventures is a further step in this process,” Wintershall Dea Chief Executive Officer Mario Meren was quoted as saying by the company’s press service.
According to Wintershall Dea, we are talking about the following joint ventures with Russia: Wintershall AG in Libya (51% share), Wintershall Noordzee BV in the Netherlands (50%) and Nord Stream AG (15.5%).
Wintershall Dea is one of the investors in the Nord Stream 2 gas pipeline. The company also owns 15.5% in the Nord Stream operator, 25.01% in Achim Development jointly with Gazprom. Wintershall Dea also manages Severneftegazprom, which is developing the Yuzhno-Russkoye field, together with Gazprom and OMV.
In January 2023, Wintershall Dea announced the decision to leave Russia. The company estimated the loss from the write-off of Russian assets at €5.3 billion. In February, Wintershall Dea also reported the loss of €2 billion in dividends from joint ventures in Russia. On August 28, the head of the company, Mario Mehren, said that the exit of Wintershall Dea from Russia is difficult due to the “unpredictable business and political environment.”
[ad_2]
Source link
