The assets of a gas company owned by Russian oligarchs are put up for sale in Poland

The company was sanctioned in 2022 and placed under external management. This is another step towards reducing European dependence on Russian energy blackmail.

Photo: Novatek Green Energy

Karol Szymański, the interim CEO of Novatek Green Energy, a subsidiary of the Russian Novatek group, has announced the sale of the company’s assets in Poland. The main owners of Novatek are Russian oligarchs Leonid Mikhelson and Gennady Timchenko.

The company’s main activity is the sale and distribution of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) in Poland and other European countries, Interfax reports.

The company also has its own gas networks in Poland for LNG distribution. In 2021, Novatek Green Energy received sales revenue of PLN 1 billion 793 million 991 thousand (EUR 382 million), and the number of employees during this period was 137 people.

The Polish government imposed sanctions on the company on April 26, 2022. They include the freezing of assets. And then it introduced external management.

Potential investors must submit applications by April 14. An important condition for investors is the preservation of jobs and utility services.

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