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Wintershall Dea has no plans to repair Nord Stream gas pipeline — CEO

Wintershall Dea is a shareholder of the Nord Stream gas pipeline operator (with a 15.5% stake)

MOSCOW, April 26. /TASS/. Wintershall Dea, one of the largest oil and gas companies in Europe, has no plans to repair the Nord Stream gas pipeline, but is focused on ensuring environmental safety in the area of pipeline damage, the German company’s CEO Mario Mehren said at a press conference.

"There are no plans to repair Nord Stream, to be clear. What we suggest to do is to save the pipeline to save the environment there," he said.

Wintershall Dea is a shareholder of the Nord Stream gas pipeline operator (with a 15.5% stake). However, the company said in its report that it had completely written off its 15.5% stake in the Nord Stream operator after the pipeline was damaged.

On January 17, Wintershall Dea announced its intention to leave Russia. Wintershall will exit its assets in the country in accordance with current legal obligations and will record a loss of 5.3 billion euros from the deconsolidation of joint ventures in Russia.

Wintershall Dea was one of the financial investors of Nord Stream 2. It is a shareholder of the Nord Stream gas pipeline operator (15.5%), owns 25.01% in the Achim Development joint project with Gazprom (74.99%), as well as, together with Gazprom and the Austrian OMV, manages the Severneftegazprom joint venture, which develops the Yuzhno-Russkoye field.

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