OREANDA-NEWS  German Wintershall Dea has completely written off its stake in Nord Stream after the explosions that occurred on the gas pipeline, the company said. "Due to the geopolitical situation, it is impossible to predict the timing and costs of restoring the gas transportation infrastructure, and, consequently, Wintershall Dea has completely written off its investments," the firm said in its annual report.

In October, the company reported that in the third quarter of 2022, it lowered the estimate of its 15.5% stake in Nord Stream AG, the operator of the Nord Stream gas pipeline, by 175 million euros due to incidents on it.

Wintershall noted that, as a minority shareholder, it supports Nord Stream AG's cautious actions to stabilize the pipeline system in order to reduce risks to shipping and the environment.

In October, Wintershall reported that in the third quarter of 2022 it lowered the estimate of its 15.5% stake in Nord Stream AG, the operator of the Nord Stream gas pipeline, by 175 million euros due to incidents on it. In March, it also devalued the value of its investments in Nord Stream 2, the operator of Nord Stream 2, totaling 1 billion euros.

Nord Stream AG is the owner of Nord Stream, and its shares are owned by Gazprom International Projects (51%), Wintershall Dea AG (formerly Wintershall Holding GmbH) and PEG Infrastruktur AG (E.ON) (15.5% each), N.V. Nederlandse Gasunie and Engie (9% each).