Engie cuts Nord Stream stake price estimate to 305 mln euros

MOSCOW, Jul 29 (PRIME) -- Engie has reduced the price estimate of its share in the Nord Stream gas pipeline by 259 million euros to 305 million euros due to the reassessment of the risk profile of Russian gas giant Gazprom, the French company said in a report on Friday.

"On Nord Stream 1, the Group has reviewed the valuation of its 9% stake, due to the heightened risk profile of its unique customer, Gazprom, reducing therefore its value to 305 million euros, down 259 million euros compared to December 31, 2021,” it said.

“This change in fair value does not affect the profit and loss account, as it is taken directly to Engie's equity."

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