Europe’s largest energy network operator has completely written off the value of its stake in Nord Stream AG.
German energy concern E.ON has completely divested its 15.5% stake in the gas pipeline Nord Stream. This was stated in the company’s annual report, published on March 15.
It was noted that initially the package was worth 1.2 billion euros, but its price was reduced to zero at several stages.
E.ON emphasized that Russia’s aggression in Ukraine has a wide-ranging economic impact, and its direct impact is already being felt in the energy sector. The effects of the war also affected the company’s business.
“In conditions of increased uncertainty and against the background of damage to both threads Nord Stream-1 these investments were written down to their fair value as of December 31, 2022. This reduction was approximately 1.2 billion euros compared to December 31, 2021.
Before, they shared in the Nord Stream, the controlling stake is Russian-owned Gazprom, fired and other foreign investors of the project – Wintershall Dea, Gasunie.
French Engie lowered its stake to 90 million euros.
Recall that at the end of September, the authorities of Denmark and Sweden reported gas leaks in two strings of the Nord Stream near the island of Bornholm, which occurred due to explosions.
Later, the Swedish authorities confirmed the fact of sabotage on gas pipelines – the investigation found the remains of explosives.
Putin does not believe in Ukraine’s involvement in destroying the joint venture
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Source: korrespondent
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