Gazprom subsidiary files $880 million 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, 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)

Source: Investing.com