Posted Sep 30, 2022 12:15 PMUpdated Sep 30, 2022 12:46 PM
Engie will close its Russian office. According to our information, the French gas supplier is finalizing its complete withdrawal from Russia, while it still had a representative office which, in recent weeks, managed the remaining contracts – mainly the one with the Russian giant Gazprom -, and made relational .
However, the situation had become increasingly difficult. A few weeks ago, Gazprom announced that it was completely stopping its deliveries to Engie “from September 1, 2022 until full receipt of the financial sums due. »
Nord Stream 1 shareholder
And things got even more complicated this week with suspected sabotage on the Nord Stream 1 and Nord Stream 2 gas pipeline this week. The international community accuses Russia of being responsible for the methane leaks observed in the Baltic Sea. The Russians may have suddenly lowered and then increased the pressure in the gas pipeline linking Germany to Russia, which was shut down but contained ready-to-use gas. Political pressure was growing.
Engie is still a 9% shareholder in Nord Stream 1, a company under Swiss law, whose gas pipeline was shut down for an indefinite period at the end of August.
The French group, on the other hand, no longer has any link with Nord Stream 2, which has never been put into service due to European Union sanctions against Russia. In the spring, he announced a credit loss of $987 million, the amount invested during the funding round.
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