Germany-based Wintershall Dea has been a partner in Russian fields and pipelines for decades, and still owns assets and 15% of the Nord Stream 1 pipeline.

In March, however, the company’s management board decided not to advance or implement any additional gas and oil production projects in Russia, and to write off its financing of Nord Stream 2 totaling around 1 billion euros.

Wintershall Dea's chief executive Mario Mehren told reporters at the ONS 2022 conference and exhibition in Stavanger that recent events will strengthen the company’s commitment to Norway because, in his view, Russia can no longer be trusted.