Berlin, March 3 - Neftegaz.RU. Wintershall Dea decided not to embark on any further projects on gas & oil production in Russia and to write off its financing of Nord Stream, totaling around $1.1 billion.
Wintershall Dea CEO Mario Mehren had said:
- Our thoughts are with the people in Ukraine who are opposing the invasion with indescribable bravery and courage
- We have built many personal relationships - also in our joint ventures
- However, the foundation of our work in Russia has been shaken to the core
- This latest military escalation also shakes the economic cooperation between Russia and Europe that has been built up over decades
However, the German company said that it remains involved in the existing 3 onshore projects in Siberia:
- The Urengoyskoye field is located in the Yamal-Nenets Autonomous Area, there the Achimgaz JV produces gas from the technically complex Achimov formations in Area 1A
- Another joint project, Achim Development, is developing Area 4A/5A
- A little further south and also in the Yamal-Nenets AA lies the Yuzhno-Russkoye field, in which Wintershall Dea has a stake via the Severneftegazprom JV
Gascade is described as critical gas transport infrastructure, connecting Germany along with 4 other European countries.
Wintershall Dea is majority owned by the German chemicals giant BASF.
The company has decided to postpone its decision on dividend distribution until further notice. 
