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Putin extends restrictions on Gazprom's purchases of gas from JVs with OMV, Wintershall

The decree was adopted last year and initially was valid until October 1, 2023

MOSCOW, September 11. /TASS/. Russian President Vladimir Putin has extended the validity of the decree restricting Gazprom’s purchases of gas and services from its joint ventures (JVs) with Austria’s OMV and Germany’s Wintershall Dea until October 1, 2024.

The decree was adopted last December and initially was valid until October 1, 2023.

By this decree the Russian government set the prices above which Gazprom will not buy gas and services from its joint ventures with OMV and Wintershall Dea.

Wintershall Dea owns 25.01% in the Achim Development joint project with Gazprom (74.99%) for the development of Achim deposits of the Uregngoyskoye field. Together with Gazprom and OMV, it manages the Severneftegazprom joint venture developing the Yuzhno-Russkoye field.

Wintershall Dea is continuing its exit from assets in Russia and plans to complete it by mid-2024.

OMV previously stated that it will not invest in Russian projects. The company intends to review its share in the Yuzhno-Russkoye field (24.99%). It will also review its participation in the construction of the Nord Stream 2 gas pipeline. OMV terminated the agreement with Gazprom dated October 3, 2018, according to which OMV was to receive 24.98% in the project to develop sections 4A and 5A of the Achimov deposits of the Urengoysloye field.

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Vladimir Putin Gazprom

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