Russian govt orders Wintershall stake in Achimgaz sold to Gas Technologies
MOSCOW. April 17 (Interfax) - Russian Prime Minister Mikhail Mishustin has signed an order to sell stakes in Achim Development LLC, Achimgaz LLC and Achim Sbyt LLC that previously belonged to Germany's Wintershall to Gas Technologies LLC.
Based on an application from Gas Technologies dated March 23, 2026 and appraisals of the stakes in these companies, 25.01% of Achim Development, 50% of Achimgaz and 9% of Achim Sbyt will be sold for, respectively, 2.8 billion rubles, 4.7 billion rubles and 100 million rubles, a published government resolution said.
The government previously issued a resolution to transfer possession of Achimgaz, Achim Development and Achim Sbyt to Russian ownership. President Vladimir Putin issued a decree (No. 966) to make the relevant changes at these companies on December 19, 2023.
Three new LLCs were registered and all the rights and obligations of the previously existing joint-stock companies were transferred to them. All stakes in the three companies were redistributed proportionately, with Gazprom getting equivalent stakes in the new companies and the foreign shareholders' stakes going to the LLCs themselves.
The stakes that were transferred to the books of the new LLCs were slated for appraisal and offered for sale to Gas Technologies. Bank Rossiya registered a subsidiary with this name in St. Petersburg in August 2023, the Unified State Register of Legal Entities showed.
The proceeds from the sale of the stakes in these companies to Gas Technologies will be credited by the buyers to C-type accounts opened by each company in the name of the corresponding shareholders of Achimgaz, Achim Development and Achim Sbyt, in line with a March 5, 2022 presidential decree, in proportion to the value of the equity stakes in the respective companies.
JSC Achimgaz is a 50-50 joint venture between Wintershall Dea and Gazprom Dobycha Urengoi LLC that is developing Block 1A of the Urengoi field. Achimgaz is also the general contractor for the development of sections 4A and 5A of Urengoi's Achimov formations. Achim Development, 74.99% owned by Gazprom and 25.01% by Wintershall Dea, is the operator, and Achim Sbyt is a trading company that Gazprom and Wintershall Deal set up for the project.
