Wintershall Dea Writes Off Financing of Nord Stream 2, Stop Payments to Russia
02 März 2022 - 6:04PM
Dow Jones News
By Giulia Petroni
Germany's Wintershall Dea on Wednesday said that it will write
off its financing of the Nord Stream 2 gas pipeline totalling
around 1 billion euros ($1.12 billion) and stop payments to Russia
effective immediately.
The oil-and-gas producer, which is one of the co-financiers of
the pipeline project linking Russia to Germany, said it won't
advance or pursue any additional oil-and-gas production projects in
Russia.
"The Russian President's war of aggression against Ukraine has
shaken the foundations of the company's work in Russia to the
core," the company said, adding it is currently in contact with the
German government and the European Commission.
Due to the uncertainties associated with Russia's invasion of
Ukraine, Wintershall Dea has also decided to postpone its decision
on dividend distribution until further notice.
The company remains active in Gascade Gastransport GmbH, which
operates a gas pipeline network in Germany, and in the Yuzhno
Russkoye and Achimov natural gas production projects in
Siberia.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 02, 2022 11:49 ET (16:49 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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