Gazprom Files Claim Against Linde

(Reuters) – A subsidiary of Russia's gas major Gazprom (MCX:GAZP) has filed a claim for 85.7 billion roubles ($879 million) against global industrial gases and engineering company Linde (NYSE:LIN) and its subsidiaries, as indicated in court documents released on Wednesday.

The claim, initiated by the Gazprom subsidiary responsible for the Amur Gas Processing Plant, was filed on October 29 in the Arbitration Court of the Amur Region, located in Russia’s east.

Linde left Russia and the Amur plant, which is crucial for facilitating Russian gas exports to China through the Power of Siberia pipeline, following Russia's invasion of Ukraine in February 2022.

The plant's first technological line became operational in June 2021, and it is projected to achieve full annual capacity of 42 billion cubic meters of natural gas processing by next year.

In 2022, Linde, recognized as the world's largest industrial gases company, announced it was halting all business development activities in Russia, ceasing supplies to specific customers, and divesting industrial assets to minimize its presence in the nation.

Both Gazprom and Linde have yet to respond to emailed requests for comments. Following Linde's exit from Russia, several claims have been filed against the company.

Notably, a Russian court ordered the freezing of assets valued at approximately $1.15 billion belonging to a British subsidiary of Linde in an August dispute regarding a gas processing plant.

($1 = 97.4955 roubles)