HAMBURG - Wintershall Dea AG's Management Board has decided not to advance or implement any additional gas and oil production projects in Russia and to write off its financing of Nord Stream 2 totalling around 1 billion euros.

In a personal statement yesterday, Wintershall Dea's Chief Executive, Mario Mehren, emphasised that the Russian President's war of aggression against Ukraine has shaken the foundations of the company's work in Russia to the core. The brutal attack is causing unimaginable suffering and marks a turning point.

As a consequence, Wintershall Dea AG's Management Board has decided today: not to pursue any additional gas and oil production projects in Russia, and to stop all planning for new projects.to basically stop payments to Russia with immediate effect. to write off its financing of Nord Stream 2. Wintershall Dea remains active in GASCADE Gastransport GmbH. GASCADE operates a 3,200 km gas pipeline network in Germany: critical infrastructure for gas transport in Germany and Europe.

Wintershall Dea remains involved in the existing Yuzhno Russkoye and Achimov natural gas production projects in Siberia. The projects produce natural gas for European energy supply.

Wintershall Dea is in contact with the German Federal Government and the European Commission.

Wintershall Dea AG's Management Board, the Central Works Councils, and the Executive Representative Committee today published a Joint Statement on Russia's war against Ukraine.

About Wintershall Dea

Wintershall Dea is Europe's leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.

Contact:

Tel: +49 561 301-3301

Email: press@wintershalldea.com

(C) 2022 Electronic News Publishing, source ENP Newswire