Wintershall Dea to write off 1 bln euro Nord Stream 2 financing

MOSCOW, Mar 2 (PRIME) -- Germany’s Wintershall Dea will not launch any new projects in Russia, and will write off a 1 billion euro investment in the Nord Stream 2 natural gas pipeline, the company said in a statement on Wednesday.

But the company will continue partaking in the existing projects for gas production in Siberia at the Yuzhno-Russkoye and Achimov deposits, the company said.

On Monday, British–Dutch oil giant Shell has decided to withdraw from the Nord Stream 2 gas pipeline project and from joint ventures with Russia’s Gazprom and Gazprom Neft, and on Tuesday, Austrian energy company OMV said it would reconsider its participation in the pipeline.

The Nord Stream-2 project envisages construction of two lines of a natural gas pipeline with an annual capacity of up to 55 billion cubic meters, running from the Russian shore to Germany under the Baltic Sea. Gazprom implements the project together with Germany’s Uniper and Wintershall Dea, Royal Dutch Shell, Austria’s OMV, and France’s Engie.

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