Legal entities registered to 'Russify' Gazprom's JV with Wintershall Dea and OMV

MOSCOW. July 2 (Interfax) - Several new legal entities for the so-called "Russification" of ownership of Gazprom's joint projects with foreign partners, namely Germany's Wintershall Dea and Austria's OMV, were registered on Monday, data in the Unified State Registry of Legal Entities (USRLE) indicate.

This specifically involves the companies responsible for developing the Yuzhno-Russkoye field, namely Severneftegazprom LLC, Gazprom YURGM Trading LLC, and Gazprom YURGM Development LLC. This also involves the joint ventures responsible for developing the individual blocks of the Achimov deposits at the Urengoy field, namely Achimgaz LLC, Achim Development LLC, and Achim Sbyt LLC.

The companies of the Gazprom group in the new LLCs have received stakes similar to the respective participation in the previous companies. Stakes equivalent to foreign participation have been registered under the names of the new companies themselves. The stakes in Severneftegazprom, Gazprom YURGM Development, and Gazprom YURGM Trading, respectively, which are on the balance sheets of the companies, must undergo evaluation and be offered to SOGAZ for acquisition at market value in the manner determined by the government.

The proceeds from selling the respective LLCs' equity stakes to SOGAZ are credited by the purchasers to type "C" accounts opened by each company under the name of the corresponding stakeholders of Severneftegazprom, Gazprom YURGM Development, and Gazprom YURGM Trading, respectively, as per the Russian presidential decree dated March 5, 2022, in proportion to the value of the shares in the equity capital of the respective companies. The Russian government and the Central Bank determine the procedure for the relevant stakeholders to dispose the received proceeds.

The stakes in Achimgaz, Achim Development, and Achim Sbyt, respectively, which are to be transferred to the respective balance sheets of the established LLCs, are subject to assessment and are offered for sale to Gas Technologies LLC. Bank Rossiya established a subsidiary with this name in St. Petersburg in 2023.

The proceeds from selling the respective LLCs' equity stakes to Gas Technologies LLC are credited by the purchasers to type "C" accounts opened by each company under the name of the corresponding stakeholders of Achimgaz, Achim Development, and Achim Sbyt, respectively, as per the Russian presidential decree dated March 5, 2022, in proportion to the value of the shares in the equity capital of the respective companies.