Following reports in Germany yesterday of Linde’s suspension of new business in Russia, the company has confirmed it is ‘safely winding down’ affected projects in Russia and has suspended all business development for new projects in the country.
German publication Handelsblatt reported yesterday (Wednesday 16th) that business affected by sanctions had already been stopped at Linde or will be shut down in the near future.
Linde does, however, intend to fulfil existing contracts if permitted under sanctions, gasworld understands. This would include existing contracts with Gazprom, for example, a major customer of Linde which only placed two major orders with the company last autumn worth a reported $6bn.
The company was awarded the contract for a gas processing plant and an LNG plant in a large industrial complex near Ust-Luga, as affirmed in its Q3 2021 financial presentation to analysts at the end of the year.
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