Wintershall abandons new oil and gas projects in Russia

The German company Wintershall Dea has decided not to implement new gas and oil projects in Russia, Report informs citing RIA Novosti that the company's press release reads.

The board of Wintershall Dea AG has decided not to advance or implement any additional gas and oil projects in Russia and to write off funding for Nord Stream 2 totaling about 1 billion euros, the report adds.

At the same time, Wintershall Dea will continue to participate in existing projects for the extraction of natural gas in Siberia - Yuzhno-Russkoye and Achimovskoye. As part of these projects, natural gas is supplied to Europe.