KASSEL, Germany – Wintershall Dea’s board has decided not to advance or initiate any further gas and oil production projects in Russia, following events in Ukraine.
In addition, the board plans to stop payments to Russia and to write off around EU $1 billion of financing for the company’s share of the Nord Stream 2 gas line project in the Barents Sea.
Wintershall Dea’s chief executive Mario Mehren said the Russian President's war of aggression against Ukraine had “shaken the foundations of the company’s work in Russia to the core. The brutal attack is causing unimaginable suffering and marks a turning point.” The company remains involved in the onshore Yuzhno Russkoye and Achimov natural gas production projects in Siberia which produce natural gas for European energy supply.
According to a report in the UK’s Times newspaper, Nord Stream AG, the Gazprom-owned company that commissioned construction of the Nord Stream 2 pipeline from Russia to Germany, is considering filing for insolvency and has dismissed its 140 staff.