Equinor completes full exit from Russia

Energy Materials 2 September 2022 10:47
Baku, Azerbaijan Trend News Agency Leman Zeynalova
Equinor completes full exit from Russia

Norway’s Equinor has completed full exit from Russia, Trend reports with reference to the company.

“On 25 May 2022, Equinor announced its exit from the four joint ventures with Rosneft as well as the signing of an agreement to leave the Kharyaga project.

Equinor can now confirm that the full exit from Kharyaga has also been completed,” said the company.

As part of the exit from Kharyaga, Equinor has in compliance with applicable sanctions covered decommissioning liabilities accrued and owed by Equinor over the years.

Following the exit from Kharyaga, Equinor has no remaining assets or projects in Russia.

The company decided to initiate the process of withdrawal from its joint ventures in Russia on February 27. Since then, Equinor has halted all new investments into Russia, stopped trading oil and gas products from Russia and announced an impairment of $ 1.08 billion on the balance sheet as of 31 March 2022.