OMV Ends Talks With Gazprom Over Stake in Gas Field; To Review Nord Stream 2 Role
02 Marzo 2022 - 7:52AM
Dow Jones News
By Joshua Kirby
Austria's OMV AG said late Tuesday that it is calling off
negotiations with Russian state gas company Gazprom PJSC over a
potential acquisition and will also review its involvement in the
Nord Stream 2 gas pipeline, becoming the latest European energy
company to back away from its Russian interests after the country
invaded neighboring Ukraine last week.
OMV won't pursue the potential acquisition of a roughly 25%
stake in the Achimov 4A/5A phase development at Gazprom's Urengoy
gas and condensate field, and will terminate a basic sale agreement
dating from October 2018, it said.
The energy company will furthermore review its involvement in
the now-halted Nord Stream 2 pipeline linking Russia to Germany.
Nord Stream 2 AG, the Switzerland-based company behind the
pipeline, is owned by Gazprom. OMV helped finance the pipeline
along with Shell PLC, France's Engie SA, and Germany's Uniper SE
and Wintershall Holding GmbH.
Various European energy companies have withdrawn from their
Russian interests in recent days after the country sent troops into
Ukraine. Shell said Monday that it would exit its joint ventures
with Gazprom, after peer BP PLC said it would divest its nearly 20%
stake in state-controlled oil producer Rosneft.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
March 02, 2022 01:37 ET (06:37 GMT)
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