tradingkey.logo

Gazprom subsidiary files $880 million claim against Linde

ReutersOct 30, 2024 6:51 AM

(Reuters) - A subsidiary of Russia's gas major Gazprom has filed a claim for 85.7 billion roubles ($879 million) against global industrial gases and engineering company Linde and its subsidiaries, court documents showed on Wednesday.

The Gazprom subsidiary, in charge of the Amur Gas Processing Plant filed the claim on Oct. 29 in the Arbitration Court of the Amur Region, in Russia's east.

Linde left Russia and the plant, which facilitates Russian gas exports to China via the Power of Siberia pipeline, following Russia's invasion of Ukraine in February 2022.

The plant's first technological line started operation in June 2021. The plant is expected to reach full annual capacity of 42 billion cubic metres of natural gas processing next year.

Linde, the world's largest industrial gases company, said in 2022 it was suspending all business development activities in Russia, ceasing supply to certain customers, and divesting industrial assets to reduce its footprint in the country.

Gazprom and Linde did not immediately reply to emailed requests for comment.

There have been a number of claims against Linde in Russia following its departure from the country.

In one of the cases, a Russian court ordered that assets worth around $1.15 billion of a British subsidiary of Linde be frozen in a dispute over a gas processing plant in August.

($1 = 97.4955 roubles)


(Reporting by Lidia Kelly in Melbourne and Vladimir Soldatkin in Moscow; Editing by Lincoln Feast.)

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

tradingkey.logo
tradingkey.logo
Intraday Data provided by Refinitiv and subject to terms of use. Historical and current end-of-day data provided by Refinitiv. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.
* References, analysis, and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgement of the analyst, without considering the investment objectives and financial situation of the investors.
Risk Warning: Our Website and Mobile App provides only general information on certain investment products. Finsights does not provide, and the provision of such information must not be construed as Finsights providing, financial advice or recommendation for any investment product.
Investment products are subject to significant investment risks, including the possible loss of the principal amount invested and may not be suitable for everyone. Past performance of investment products is not indicative of their future performance.
Finsights may allow third party advertisers or affiliates to place or deliver advertisements on our Website or Mobile App or any part thereof and may be compensated by them based on your interaction with the advertisements.
© Copyright: FINSIGHTS MEDIA PTE. LTD. All Rights Reserved.