Germany’s Wintershall Dea disclosed to stakeholders that it has secured circa €2 billion in dividends from its joint ventures with Russian partners. CEO Mario Mehren communicated this figure during the company’s annual press conference on Thursday, a session that was widely observed by markets and industry analysts across Europe and North America. The disclosure underscores the scale of the company’s exposure to Russian operations, even as Western energy players reconfigure their portfolios in response to changing and increasingly complicated geopolitical realities. The information was transmitted by TASS in coverage of the event.
“We will do everything we can to pursue concrete steps that minimize damage and losses,” Mehren stated. He framed the stance as a proactive effort to seek accountability and to press for actionable remedies in the ongoing situation. The CEO highlighted that Wintershall Dea intends to explore all viable routes to protect the company’s financial interests, including pursuing diplomatic and legal avenues as warranted by the evolving landscape. He emphasized a commitment to closely monitor developments and to respond swiftly to changes as they unfold. The company is preparing for a range of scenarios, with risk mitigation high on the agenda for the board and executive leadership.
Earlier in the week, Wintershall Dea announced that it would formally relinquish its stake in Nord Stream following the emergency at the Nord Stream and Nord Stream 2 gas pipelines. The decision marks a significant shift in the company’s European gas portfolio, aligning with a broader trend in which international energy groups reassess long-standing investments in critical infrastructure amid heightened geopolitical risk and regulatory uncertainty. The move away from the Nord Stream project is presented by Wintershall Dea as a strategic withdrawal designed to reduce exposure to potential regulatory and market volatility emanating from Russia.
The Nord Stream incidents, which occurred on September 26, 2022, are widely described by authorities in Germany, Denmark, and Sweden as likely acts of sabotage. In contrast, Nord Stream AG, the operator, reported that the event was unprecedented and difficult to predict in terms of repair timelines. The differing assessments reflect the complexity and sensitivity surrounding energy infrastructure safety and the ongoing international dialogue about energy security in Europe and the global market. These developments have significant implications for European energy pricing, supply diversification, and the risk management approaches adopted by Western energy firms with Russian ventures.
Prior to these developments, Interfax reported that Wintershall Dea had signaled its intention to exit following the Russian President and Government’s decision to implement regulated price controls for the products and services of the joint ventures. The company described these measures as an instance of economic nationalization affecting foreign-owned assets. In the Canadian and U.S. markets, investors are watching how such regulatory shifts could influence cross-border energy strategies, including hedging practices, insurance considerations, and the assessment of political risk across North American energy portfolios. Analysts note that corporate responses to state-driven pricing changes carry wide-ranging implications for liquidity, asset valuation, and stakeholder confidence, particularly for multinational operators with assets in Russia and adjacent markets. [Citation: industry briefings and regional market coverage]”