Wintershall DEA Writes Off 1 Billion Euro Financing of Nord Stream 2: Press Release; Dutch Gas Hits 194 euros!

WINTERSHALL DEA WRITES OFF 
FINANCING OF NORD STREAM 2

This is unedited

No additional projects in Russia will be advanced or implementedPayment transactions already stoppedCritical infrastructure will continue to be operatedJoint statement from Works Council and Executive Board
Kassel / Hamburg. Wintershall Dea AG’s Management Board has decided not to advance or implement any additional gas and oil production projects in Russia and to write off its financing of Nord Stream 2 totalling around 1 billion euros.

In a personal statement yesterday, Wintershall Dea’s Chief Executive, Mario Mehren, emphasised that the Russian President’s war of aggression against Ukraine has 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.

As a consequence, Wintershall Dea AG’s Management Board has decided today:

• not to pursue any additional gas and oil production projects in Russia, and to stop all planning for new projects,

• to basically stop payments to Russia with immediate effect,

• to write off its financing of Nord Stream 2.

Wintershall Dea remains active in GASCADE Gastransport GmbH. GASCADE operates a 3,200 km gas pipeline network in Germany: critical infrastructure for gas transport in Germany and Europe.

Wintershall Dea remains involved in the existing Yuzhno Russkoye and Achimov natural gas production projects in Siberia. The projects produce natural gas for European energy supply.

Wintershall Dea is in contact with the German Federal Government and the European Commission.

Wintershall Dea AG’s Management Board, the Central Works Councils, and the Executive Representative Committee today published a Joint Statement on Russia’s war against Ukraine.
The press information can be downloaded here.
We also published an Investor Release about the postponement of the dividend decision today, which you can find here.
Photo by u0414u043cu0438u0442u0440u0438u0439 u0422u0440u0435u043fu043eu043bu044cu0441u043au0438u0439 on Pexels.com

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