Linde Gaz Rus

2022

Seizure of Russian assets worth 35 billion rubles

In December 2022, the Arbitration Court of St. Petersburg and the Leningrad Region arrested the Russian assets of the chemical concern Linde in the amount of 35 billion rubles at the request of RusChemAlliance. We are talking about Linde GmbH from Germany and its parent company Linde PLC, registered in Ireland.

The property of the Linde GmbH branch in Samara, as well as shares in the authorized capital of Linde Gas Rus JSC, Linde Uraltehgaz JSC, Linde Gas Novotroitsk LLC, Gazprom Linde Engineering LLC, etc. The application for interim measures was submitted to arbitration on December 23, 2022.

The court arrested the assets of the German chemical company Linde in Russia for 35 billion rubles

RusChemAlliance within 15 working days from the date of the decision on interim measures should begin to implement the pre-trial procedure for resolving the dispute with Linde, namely: send a notice of the dispute for consideration by senior management

RusChemAlliance also intends to appeal to the Hong Kong International Arbitration Center with a lawsuit against Linde to recover €1.1 billion, which includes an undeveloped advance and compensation for losses.

In March 2022, Linde announced that it had stopped implementing new projects in Russia and intends to comply with the requirements of the EU sanctions imposed on Moscow. At the same time, the company stated that they plan to continue to fulfill the requirements of already signed contracts, if this does not contradict the imposed sanctions.

However, the company later notified the customer about the suspension of work due to the ban on the supply of dual-use goods to Russia. Ruskhimalyans, in turn, said that the sanctions do not cover the work under the contract. Since the work was never resumed, the applicant notified Linde on 23 September 2022 of the contract termination.

At the same time, guarantor banks replied that they could not fulfill their obligations, since a payment to a Russian company could violate European sanctions.^[1]

Refusal to design LNG plant in Ust-Luga

The German Linde - a key manufacturer of gas separation and liquefaction equipment - in June 2022 refused to work with Gazprom"" on the design and construction of an LNG plant in Ust-Luga. The decision was made against the background of a special operation Russia on To Ukraine and sanctions. EU

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