• SPX
  • $5,870.62
  • -1.32 %
  • -$78.55
  • DJI
  • $43,444.99
  • -0.7 %
  • -$305.87
  • N225
  • $38,642.91
  • 0.28 %
  • $107.21
  • FTSE
  • $8,063.61
  • -0.09 %
  • -$7.58
  • IXIC
  • $18,680.12
  • -2.24 %
  • -$427.53

Gazprom subsidiary files $880 million claim against Linde

By Reuters   |   Oct 30, 2024 at 02:51 AM EST
Gazprom subsidiary files $880 million claim against Linde

(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.)

Did you find this insightful?


We are preparing, please wait

×
New Alert

Select an alert type

Choose sentiment spike or mentions spike or both to receive email alerts and app notification for the selected stock.
Note: Please be aware that you will receive an email only once a day, around 8:00 AM (EST), in the event of any spike.
In future if you don't want to receive any email then delete stocks added into alert section.

New Alert

Setup alert

×

Premium Content

This content is only available for premium members. Please become a paid member to access.

Download App

Currently, memberships can only be purchased through the app.

×

Log In


or

download app using google store Continue with Google download app using apple Continue with Apple

Email Verification

An email with a verification code has been sent to your email address.

Welcome to Stocks.News!

Create Your Account

Email Verification

An email with a verification code has been sent to your email address.