Wintershall Dea remaining in existing Gazprom projects, not planning new ones in Russia; to write off 1 bln euros of investments in Nord Stream 2

MOSCOW. March 2 (Interfax) - Germany's Wintershall Dea, Gazprom's main partner in Europe, will remain in existing joint enterprises with the Russian gas giant but will not implement new projects, the company said in a statement.

"The management of Wintershall Dea AG has made the decision to not move forward with or implement any additional oil and gas production projects in Russia and to write off investments in the Nord Stream 2 project of approximately 1 billion euros," the statement said.

Chairman of the Board and CEO Mario Mehren said earlier that "the foundation of our work in Russia has been shaken to the core" by the events in Ukraine, which "marks a turning point."

Wintershall Dea has decided not to embark on any further projects on gas and oil production in Russia and will not plan new ones. The company is continuing to work in GASCADE Gastransport GmbH, which manages a network of pipelines 3,200 kilometers long in Germany and the most important infrastructure for the transport of gas in Germany and Europe.

Wintershall Dea will further participate in existing projects on natural gas production at the Yuzhno-Russkoye field (OJSC Severneftegazprom), as well as projects on the development of the Achim deposit at the Urengoy gas field. "These projects produce natural gas for Europe's energy supply," the statement said.

"Wintershall Dea is in contact with the federal government of Germany and the European Commission," it said.