Russian govt orders sale of Wintershall Dea, OMV stakes in Severneftegazprom to Sogaz

MOSCOW. April 17 (Interfax) - Russian Prime Minister Mikhail Mishustin has signed an order to sell stakes in companies created for the so-called "Russification" of gas giant Gazprom's joint venture with Germany's Wintershall Dea and Austria's OMV to develop the Yuzhno-Russkoye oil and gas field to insurer Sogaz.

Based on an application from Sogaz dated March 23, 2026 and appraisals of the stakes in these companies, 49.99% of Severneftegazprom LLC will be sold for 1.8 billion rubles, and stakes of 0.01% in Gazprom YuRGM Trading LLC and Gazprom YuRGM Development LLC will be sold for 3 billion rubles each, a published government resolution said.

The Yuzhno-Russkoye field, which is located in the Krasnoselkupsky district of the Yamalo-Nenets Autonomous District, has A+B+C1+C2 gas reserves of more than 1 trillion cubic meters. It went into operation in October 2007.

These new companies were created earlier for the "Russification" of Gazprom's joint venture with Wintershall Dea and OMV for the Yuzhno-Russkoye project.

Gazprom Group companies received stakes in the newly registered legal entities that are equivalent to their previous interests in the project. Stakes equivalent to the equity interest of the foreign companies were registered to the new companies themselves.

The shares in Severneftegazprom, Gazprom YuRGM Trading and Gazprom YuRGM Development held on these companies' books were subject to valuation and offered for sale to insurer Sogaz at the market price in accordance with procedures set by the government.

The proceeds from the sale of the stakes in these LLCs will be deposited by the buyer in a C-type account opened for the former foreign shareholders in line with the Russian president's decree of March 5, 2022.