The company clarified that in the current geopolitical situation it is impossible to predict the time and costs of restoring Nord Stream, so Wintershall Dea has completely canceled its investments.
As a minority shareholder, Wintershall supports prudent actions by Nord Stream AG to stabilize the pipeline system, thereby seeking to reduce risks to shipping and the environment, the company said.
Wintershall reported in October that it had reduced its 15.5% stake in Nord Stream AG by 175 million euros in the third quarter of 2022 due to incidents there. And in March it wrote down the value of its investments in Nord Stream 2, the operator of Nord Stream 2, the total amount of which amounted to one billion euros.
Nord Stream AG is the operator of Nord Stream, whose shares are held by Gazprom International Projects (51%), Wintershall Dea AG (formerly Wintershall Holding GmbH) and PEG Infrastruktur AG (E.ON) (15.5% each), NV Nederlandse Gasunie and Engie (9% each).
