Wintershall Dea announced the prevention of exit from Russia
The German company Wintershall Dea has announced its exit from the Russian market. The largest oil and gas company in Europe will exit its assets in Russia after fulfilling its obligations. The loss from the write-off of Russian assets is €5.3 billion owned by the company.
“The Supervisory Board of Wintershall Dea has successfully faced the achievement of a result from Russia. Wintershall Dea intends to leave Russia completely in due course in compliance with all applicable rules and regulations,” the statement said. site company.
Wintershall Dea CEO Mario Mehren explains that the company considers it “inappropriate” to continue its operations in Russia. “In recent months, certain restrictions on Western companies and from outside in the activities of our associations of associations have made it impossible for Wintershall Dea to operate in Russia,” said Mr. Mehren.
The company’s statement refers to the Decree of Russian President Vladimir Putin dated December 22, 2022. According to the document, Gazprom cannot buy gas from price-controlled participants with Wintershall Dea. Price limit, according to a decree set by the government.
On April 28, Mario Meren said that Russia “crossed the line” in partnership relations by launching a special operation in Ukraine. He said the conflict in Ukraine meant the end of economic cooperation. Then the company wrote €1.5 billion of assets related to activities in Russia. Most of them are investments and payments for Nord Stream 2.
Gazprom, Wintershall Dea and the Austrian OMV have been running the Severneftegazprom joint venture since 2007. It includes processes in the Yuzhno-Russkoye oil and gas condensate field. Another joint venture of a Russian and German energy company is Achimgaz, established in 2006. The company produces gas in the vicinity of Novy Urengoy. Wintershall Dea also participates in the consortium for the construction and operation of Nord Stream 2.