The German oil and gas company Wintershall Dea has decided not to pursue any additional gas and oil production projects in Russia, to stop all planning for new projects in the country, to stop payments to Russia with immediate effect, and to write off its financing (around €1bn) of the 55 bcm/year Nord Stream 2 gas pipeline between Russia and Germany, in which the group owns 10% (Gazprom 50%, Uniper, Shell, OMV, Wintershall and Engie, 10% each). Wintershall Dea will remain involved the existing Yuzhno Russkoye and Achimov gas production projects in Siberia (Russia) and in Nord Stream AG, which operates the 55 bcm/ear Nord Stream 1 gas pipeline.
In addition, the Austrian oil and gas group OMV has decided to end negotiations with Gazprom on the potential acquisition of a 24.98% interest in the Achimov 4A/5A phase development in the Urengoy gas and condensate field in Russia. The group will also terminate the Basic Sale Agreement signed in 2018 and review its involvement in the Nord Stream 2 gas pipeline project.
In Portugal, the oil and gas company Galp, which has no joint ventures with any Russian entities, has decided to suspend all new purchases of oil products either sourced in Russia or from Russian companies.