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Russia’s Gazprom launches tender to sell its gas assets in the North Sea

Gazprom International, a subsidiary of the Russian gas company Gazprom, has launched a tender to sell its gas assets in the Dutch, British, and Danish sectors of the North Sea. Gazprom International plans to sell its 50% share of Wintershall Noordzee (WINZ), a joint venture with Wintershall Dea, and 100% shares of Gazprom International UK Limited, a subsidiary holding an interest in the consortium participating in Sillimanite's gas field development.

In addition, the transaction will also include the sale of 100% of the shares of Gazprom UK Limited, a company that holds Gazprom UK Resources with an interest in the consortium participating in Wingate's gas field development. At the same time, WINZ also holds interests in a consortium participating in Sillimanite's and Wingate's gas field development. Bids will start at €344m.

Gazprom International became a shareholder of WINZ in 2015 as part of the assets swap between Gazprom and Wintershall. Winz’s portfolio includes participation in 33 offshore licences in the Netherlands, the United Kingdom and Denmark that have 36 known fields. The company's main producing projects are K18-Golf, Wingate, Q1-B, Q1-D, and Sillimanite, which account for about 90% of WINZ’s extracted products. The extracted natural gas was delivered to the EU market on spot contracts, however Gazprom International drastically reduced pipeline gas supplies in 2022.