Wintershall Dea Annual Report 2019

Total Page:16

File Type:pdf, Size:1020Kb

Wintershall Dea Annual Report 2019 PAVING THE WAY FOR PROFITABLE GROWTH IN THE ENERGY TRANSITION ANNUAL REPORT 2019 WINTERSHALL DEA ANNUAL REPORT 2019 WINTERSHALL DEA AT A GLANCE Company 245 2,847 YEARS OF COMBINED HISTORY EMPLOYEES Global footprint MIDSTREAM 4,140 km onshore gas pipelines NORTHERN EUROPE 2,460 km Nord Stream Production: 201 mboe/d 2P reserves: 916 mmboe RUSSIA Production: 289 mboe/d 2P reserves: 2,234 mmboe MENA Production: 51 mboe/d 2P reserves: 423 mmboe LATIN AMERICA Production: 76 mboe/d 2P reserves: 254 mmboe 4 13 REGIONS COUNTRIES 2 WINTERSHALL DEA ANNUAL REPORT 2019 Key figures 2019¹ -170 76 275 51 201 320 617* 1,671 mboe/d € 2.8 bn 270 72 % gas 289 463 PRODUCTION EBITDAX 110 4 329 Northern Europe 35 € 1.7 bn Russia 1,198 Middle East/North Africa Latin America Midstream CAPEX (excl. acquisitions) Other * Excluding 25 mboe/d of Libyan onshore production € 1.9 bn € 190 m $ 4.3 per boe OPERATING CASH FLOW FREE CASH FLOW PRODUCTION COSTS 3.8 bn boe 109 % 17 2P RESERVES RRR 2P R/P 1 The numbers for the calendar year 2019 are an aggregation of the consolidated financial statements of Wintershall Dea for the period May-December 2019, the consolidated financial statements of Wintershall for the period January-April 2019 and the consolidated financial statements of Dea for the period January-April 2019. 3 WINTERSHALL DEA ANNUAL REPORT 2019 DISCLAIMER This annual report contains forward-looking statements Therefore, we cannot assume responsibility for the cor- regarding the future development of the Wintershall Dea rectness of these statements. Wintershall Dea does not Group and its companies as well as of the economic and assume any obligation to update the forward-looking political environment. These statements are assessments statements contained in this report above and beyond that we have made based on information available to us the legal requirements. at the time this document was prepared. Forward-looking statements are not guarantees of the future develop- ments and results outlined therein. In the event that the underlying assumptions do not materialise or unforeseen risks arise, actual developments may deviate from the currently predicted developments. 4 WINTERSHALL DEA ANNUAL REPORT 2019 TABLE OF CONTENTS 2 Wintershall Dea at a glance 4 Disclaimer 6 Chief executive letter 8 Our values 10 Our purpose Strategic report Management report 12 Who is Wintershall Dea? 88 The Wintershall Dea Group 14 The history of Wintershall and Dea 90 Our strategy 16 Our strategy 91 The Wintershall Dea Group’s Business year 24 Integration 112 Non-financial performance indicators 26 Portfolio overview 118 Forecast 58 Our Sustainability goals 64 Corporate governance Financial Statements 68 Compliance 70 Responsible employer 128 Consolidated Statement of Income 73 Our competency model 129 Consolidated Statement of Comprehensive Income 130 Consolidated Balance Sheet 132 Consolidated Statement of Changes in Equity 133 Consolidated Statement of Cash Flows 134 Notes to the consolidated financial statements 219 Declaration by the Board of Directors 220 Independent Auditor’s Report 224 Report of the Supervisory Board 226 Glossar 230 Contact and Imprint 5 WINTERSHALL DEA ANNUAL REPORT 2019 MARIO MEHREN CHIEF EXECUTIVE LETTER Dear Stakeholders, 2019 was a pivotal year for our business. From Wintershall Our integration process is progressing smoothly and on and DEA, two E&P companies with long and proud histo- time. We have already generated €100 million in cash ries, we have created something new: the leading Europe- synergies in 2019 and are targeting €200 million of annual an independent gas and oil company – Wintershall Dea. cash synergies by 2022. Our new company is built on solid foundations. A more We have set our finances on a strong long-term footing. than 120-year tradition of German engineering excellence. In September 2019, we completed our post-merger A geographically diverse portfolio focused on selected refinancing with the issuance of our inaugural corporate regions. A common culture, and a history of good co- bond. This was the largest ever debut corporate bond operation. issuance in the European market and was 2.7 times over- subscribed. A clear and strong signal of investor interest Creating value – together. We have a clear view of in Wintershall Dea. Wintershall Dea‘s purpose: to tackle the two major challenges of meeting growing global energy demand, As energy markets face growing supply and demand while also decarbonising. Our strategy focuses on a gas- uncertainty, we expect price volatility to increase even weighted portfolio and selected regions to deliver profi- further. With some of the lowest production costs in the table growth, while contributing to affordable and industry and a robust portfolio fit for all seasons, we are lower-carbon energy for the economies and societies well prepared to prosper whatever future global energy we serve. markets may bring. Strong operational and financial performance is the One change dominates the outlook for our industry. basis for delivering our strategy. In 2019, we achieved Climate change is real and the global energy transition that against a backdrop of high price volatility. Our full is happening. We are ready for it. We have strategically year production was 642,000 boe per day and EBITDAX defined ourselves as a gas and oil company, turning the for the year was €2.8 billion. Despite high levels of normal wording of our industry on its head. That‘s be- investments in future production, we achieved around cause our portfolio is heavily and deliberately weighted €200 million of positive cash flow. to gas (rd. 70%), and will remain so. 6 WINTERSHALL DEA ANNUAL REPORT 2019 Mario Mehren Chief Executive Officer Natural gas has played, and will continue to play, a major Last but not least, safety and responsibility are the bedrock role in decarbonising economies in Europe and around of our business. I am personally clear that our licence to the world. Wintershall Dea‘s strategy is to take advantage operate is not guaranteed but must be earned afresh of its position as the leading European independent gas every day. and oil company. Wintershall Dea is ready to meet the challenges and Looking to the future, we have a strong growth pipeline opportunities of the future. Technologically world-class. that will deliver future growth. Significant growth projects A diverse, robust portfolio for all kinds of weather. Natural include Nova, Dvalin and Njord in Norway; Achimov 4A gas-weighted and energy transition-ready. We know what and 5A, and the Turonian layer in Russia and Raven in we do. And we have all that we need to make the future Egypt. After we deliver these projects, we expect the a success. growth rate to moderate, as we look to balance future investments with cash returns to shareholders. We aim to deliver profitable growth and dividends for our share- holders through the commodity cycle, while maintaining Mario Mehren our investment grade rating. None of our achievements would be possible without a committed, world-class team. We explicitly value diversity in our team. It makes us stronger: bringing the widest possible range of skills, experience and perspectives. And less than a year since the merger, I also see distinct evi- dence of a shared and strong culture: of a team with the minds of engineers, and the hearts of pioneers. I thank all of our people, in our 13 operational countries, for their effort and commitment. 7 WINTERSHALL DEA ANNUAL REPORT 2019 OUR VALUES The values that guide us We know that as a company, we are measured at all levels by our actions. Our four corporate values of trust, care, open-mindedness and bravery are therefore extremely important to us in all our relations – both internally and externally. Our values guide our actions and define how we want to work together – as a team, with our stakeholders and our partners. They are pivotal in defining Wintershall Dea‘s culture. WE ARE WE WE TRUST WE CARE OPEN-MINDED ARE BRAVE Trust is the basis for all our We care for our people, the en- We are convinced that We are ready to accept big values and also their outcome. vironment, our assets and our open-mindedness is key challenges, be they demand- We believe in respect and capital. We accept responsibil- to being innovative, to achiev- ing fields, new opportunities or sustainability as the founda- ity and act on it. We do not shy ing robustness, to securing our social responsibility to ad- tion for our success. We also away from difficult conversa- exciting projects and providing vance the gas and oil industry. believe in trust as the basis for tions and weigh our decisions an inspiring work environment. We have a strong focus on per- achieving our goals and em- carefully. Safe operations that We work on the assumption formance delivery and strive powering our organisation. We pose no threat to people and that we can learn something for excellence in all that we do. trust people to make informed the environment are always from every person whom we We seize opportunities while decisions. our top priority. interact with. managing risks intelligently. 8 WINTERSHALL DEA ANNUAL REPORT 2019 MANAGEMENT BOARD Hugo Dijkgraaf Mario Mehren Paul Smith Thilo Wieland Maria Moræus Hanssen, Chief Operating Officer (COO) and Deputy CEO for the Region EMEA from 1 May until 31 December 2019 left the company on 31 December 2019. Dawn Summers is to be appointed to the Executive Board of Wintershall Dea. As Chief Operating Officer (COO) she will be responsible for the Business Units Germany, Norway, the Netherlands, UK and Denmark, Egypt, Libya, Algeria and UAE as of June 1st, 2020. 9 OUR PURPOSE Our guiding principles Wintershall Dea as the new European champion is committed to producing natural gas and crude oil in the most efficient and environmentally friendly way.
Recommended publications
  • Nord Stream 2: Background, Objections, and Possible Outcomes Steven Pifer
    NORD STREAM 2: BACKGROUND, OBJECTIONS, AND POSSIBLE OUTCOMES STEVEN PIFER APRIL 2021 EXECUTIVE SUMMARY Nord Stream 2 is an almost-finished natural gas pipeline from Russia to Germany. The Biden administration opposes it and has come under congressional pressure to invoke sanctions to prevent its completion, in large part because the pipeline seems a geopolitical project targeted at Ukraine. The German government, however, regards the pipeline as a “commercial project” and appears committed to its completion, perhaps in the next few months. U.S. sanctions applied on Russian entities to date have failed to stop Nord Stream 2, raising the question of whether the U.S. government would sanction German and other European companies for servicing or certifying the pipeline. Such sanctions would provoke controversy with Germany at a time when both Berlin and the Biden administration seek to rebuild good relations. The two sides have work to do if they wish to avoid Nord Stream 2 becoming a major point of U.S.-German contention. THE PIPELINE The European Union currently imports about 40% of its natural gas from Russia, or about one-third Nord Stream 2 is actually a pair of natural gas of its total gas consumption.4 Gazprom began pipelines that, if/when completed, will run some discussions with European companies on a direct 1,200 kilometers along the bottom of the Baltic Russia-Germany gas pipeline in 2001. At that time, 1 Sea from Ust-Luga, Russia to Greifswald, Germany. it shipped gas to western Europe via pipelines that The two pipelines, collectively referred to as Nord mainly transited Ukraine, and also Belarus and Stream 2, are projected to have the capacity to Poland (the Yamal system).
    [Show full text]
  • Change of Management at Wintershall Dea in Germany and the Netherlands
    PRESS RELEASE CHANGE OF MANAGEMENT AT WINTERSHALL DEA IN GERMANY AND THE NETHERLANDS • Robert Frimpong becomes new Head of Business Unit Germany in Hamburg • Dirk Warzecha leaves the company on 31 December 2020 • Jone Hess succeeds as Managing Director of Wintershall Noordzee Date: Page: 03.12.2020 PI-20-25 1 of 3 Hamburg / Kassel. Dirk Warzecha, Managing Director of Business Unit Wintershall Dea Germany, will leave the company on 31 December 2020. A graduate oil engineer, he was a member of the Executive Management Board and Chief Operating Officer (COO) at DEA until the merger between Wintershall and DEA in May 2019. After the merger to form Wintershall Dea as Europe’s leading gas and oil company, Dirk Warzecha took over responsibility for E&P activities in Germany as Senior Vice President. With the completion of the integration project, he is now leaving the company at the end of the year. “With his long-standing experience and extensive knowledge of the oil and gas industry, Dirk Warzecha has played a decisive role in shaping business at DEA for many years and at Wintershall Dea since 2019. On behalf of the Executive Management Board, I would very much like to thank Dirk Warzecha for his outstanding achievements that he has brought to the company in various functions, both nationally and internationally,” says Mario Mehren, CEO of Wintershall Dea. Wintershall Dea GmbH Press contact Friedrich-Ebert-Str. 160, 34119 Kassel Michael Sasse T +49 561 301-0, F +49 561 301-1702 T +49 561 301-3301 Überseering 40, 22297 Hamburg F +49 561 301-1321 T +49 40 6375-0, F +49 40 6375-3162 [email protected] www.wintershalldea.com PRESS RELEASE Date: Page: 03.12.2020 PI-20-25 2 of 3 Robert Frimpong will succeed Dirk Warzecha as Head of Business Unit Germany on 1 January 2021.
    [Show full text]
  • Who Governs the Russian Economy? a Cross-Section of Russia's Largest Corporations
    Kari Liuhto & Peeter Vahtra Who governs the Russian economy? A cross-section of Russia's largest corporations Electronic Publications of Pan-European Institute 12/2009 ISSN 1795 - 5076 Who governs the Russian economy? A cross-section of Russia's largest corporations 1 Kari Liuhto2 and Peeter Vahtra3 12/2009 Electronic Publications of Pan-European Institute http://www.tse.fi/pei 1 We wish to thank the following Finnish research foundations which have made it possible to conduct this report and numerous earlier studies linked with the theme; Emil Aaltonen Foundation, Foundation for Economic Education, Jenny and Antti Wihuri Foundation, The Marcus Wallenberg Economic Foundation and The Paulo Foundation. 2 Kari Liuhto is Professor in International Business and Director of the Pan-European Institute at the Turku School of Economics. His research interests include EU-Russia economic relations, energy relations in particular, foreign investments into Russia and the investments of Russian firms abroad, and economic policy measures of strategic significance. Liuhto has worked as an expert in several Russia-related projects funded by both Finnish institutions and foreign ones, such as the European Commission, the European Parliament, the United Nations, and the World Bank. 3 Peeter Vahtra is a Research Fellow at the Pan-European Institute at the Turku School of Economics. His areas of research expertise include Russia’s energy policy, FDI to and from Russia and Russia’s economic policy. Kari Liuhto and Peeter Vahtra PEI Electronic Publications 12/2009 www.tse.fi/pei __________________________________________________________________________________________ Contents 1. The state has increased its ownership in big business, but left small and medium-sized companies untouched 2 2.
    [Show full text]
  • Spead for Drilling Engineers 2022 (M/F/D) Graduate Programme with Domestic and International Assignments
    SPEAD FOR DRILLING ENGINEERS 2022 (M/F/D) GRADUATE PROGRAMME WITH DOMESTIC AND INTERNATIONAL ASSIGNMENTS LOCATION STARTING DATE CONTRACT TYPE Hamburg, Germany connected with 01.01.2022 Permanent (Inter)national Assignments DISCIPLINE WORKING HOURS REFERENCE CODE Drilling Engineering Full-time DEHH21 What you can expect What we expect • A tailor-made combination of practical “on the job” • Master degree, equivalent or PhD (E&P relevant) training supplemented by selected technical training • University study in a reasonable timeframe and courses for a duration of 24 months as an initial demonstrable academic achievement development phase with an unlimited hiring • At least one E&P relevant internship • Be part of a committed team and participate in • Fluent written and spoken English language skills challenging and meaningful business relevant projects in • International experience (internship and / or study domestic and international assignment locations abroad, school exchange) • Clear and competent technical supervision from senior • Strongly developed social and interpersonal skills staff, proactive support from mentors and SPEAD • High flexibility and willingness to work internationally coordination Description of our SPEAD-Programme for Drilling Engineers • Wellsite Orientation Phase – hands on rig experience, land operation, jack-ups and semi subs • Intensive Wellsite Phase – shadowing the rig crew and wellsite service contractors on all aspects of the wellbore construction process • Wellsite Drilling Engineer – involving Well Design,
    [Show full text]
  • Investment from Russia Stabilizes After the Global Crisis 1
    Institute of World Economy and International Relations (IMEMO) of Russian Academy of Sciences Investment from Russia stabilizes after the global crisis 1 Report dated June 23, 2011 EMBARGO: The contents of this report must not be quoted or summarized in the print, broadcast or electronic media before June 23, 2011, 3:00 p.m. Moscow; 11 a.m. GMT; and 7 a.m. New York. Moscow and New York, June 23, 2011 : The Institute of World Economy and International Relations (IMEMO) of the Russian Academy of Sciences, Moscow, and the Vale Columbia Center on Sustainable International Investment (VCC), a joint undertaking of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their second joint survey of Russian outward investors today 2. The survey is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The present survey, conducted at the beginning of 2011, covers the period 2007-2009. Highlights Despite the global crisis of the last few years, Russia has remained one of the leading outward investors in the world. The foreign assets of Russian MNEs have grown rapidly and only China and Mexico are further ahead among emerging markets. As the results of our survey show, several non- financial 3 Russian MNEs are significant actors in the world economy. The foreign assets of the 20 leading non-financial MNEs were about USD 107 billion at the end of 2009 (table 1). Their foreign sales 4 were USD 198 billion and they had more than 200,000 employees abroad.
    [Show full text]
  • Annual Report 2019
    Annual Report 2019 www.kpluss.com With its mineral products, K+S helps farmers secure the world’s food supply, keeps industries running, enriches consumers’ daily live’s and ensures safety in winter. The focus is on the customer and their needs. In order to position our- selves successfully on a global scale in the long term, we are increasingly acting on the basis of innovative future concepts with which we can develop products and growth markets. This transformation phase is supported by our experience of more than 130 years. It allows us to navigate safely through the challenges of the reorganization: K+S is versatile. K+S worldwide We meet the growing demand for mineral products mainly from production sites in Europe, North and South America, and through a global distribution network. 39 6 32 4 13 Number of sites ten-yeAr SummAry K+S group 1 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Profit and Loss Revenues € million 4,632.7 3,996.8 3,935.3 3,950.4 3,821.7 4,175.5 3,456.6 3,627.0 4,039.1 4,070.7 EBITDA 2 € million 953.0 1,146.0 1,033.3 907.2 895.5 1,057.5 519.1 576.7 606.3 640.4 EBITDA-Margin % 20.6 28.7 26.3 23.0 23.4 25.3 15.0 15.9 15.0 15.7 Depreciation 3 238.5 239.8 229.2 251.3 254.3 275.9 289.8 305.9 379.1 431.9 Group earnings from continued operations, adjusted 4 € million 453.8 625.6 538.1 437.1 366.6 542.3 130.5 145.0 85.4 77.8 Earnings per share from continued operations, adjusted 4 € 2.37 3.27 2.81 2.28 1.92 2.83 0.68 0.76 0.45 0.41 Cash flow Operating Cash flow € million 826.4 633.4 607.2 755.7 719.1 669.4 445.4 306.8 308.7 639.8 Capital expenditure 5 € million 188.6 293.1 465.5 742.5 1,153.2 1,278.8 1,170.8 810.8 443.2 493.3 Adjusted Free Cash flow € million 667.3 216.6 199.1 48.7 -306.3 -635.9 -776.8 -389.8 -206.3 139.7 Balance Sheet Balance sheet total € million 5,573.7 6,056.9 6,596.6 7,498.2 7,855.2 8,273.6 9,645.5 9,754.4 9,966.2 10,592.2 Equity € million 2,651.6 3,084.6 3,393.9 3,396.6 3,974.5 4,295.6 4,552.2 4,160.7 4,144.1 4,495.1 Equity ratio % 47.6 50.9 51.4 45.3 50.6 51.9 47.2 42.7 41.6 42.4 Net financial liabilities as of Dec.
    [Show full text]
  • Q4 and Full Year 2020 Results: Strong Performance Despite Difficult Environment
    INVESTOR RELEASE Q4 AND FULL YEAR 2020 RESULTS: STRONG PERFORMANCE DESPITE DIFFICULT ENVIRONMENT Date: Page: 24.02.2021 IR-21-03 1 of 3 Kassel/Hamburg. Wintershall Dea, Europe’s leading independent gas and oil company, today reported its fourth quarter and fiscal year 2020 results. Mario Mehren, Wintershall Dea Chairman & CEO, says: “2020 was undoubtedly a difficult year for everybody and I’m proud of the way that Wintershall Dea responded to the challenge. We took early and decisive actions at the beginning of the pandemic to keep our colleagues safe and to ensure continuity of operations which have allowed the company to end an extremely challenging year in a strong position. We delivered our key targets for the year, including annual production of 623 mboe/d and exited the year with strong operational momentum and record production of more than 650 mboe/d in the 4th quarter. Recognising that our industry needs to change – and that we want to be leading that change – in November we announced our energy transition pathway and targets. Looking ahead, 2021 will certainly be a year with continued high levels of uncertainty as well as volatility, and while we remain cautious, we look forward to an exciting year." Full-year 2020 Summary: • Annual production of 623 mboe/d at the higher end of original guidance underpinned by solid operating performance and record production level in Q4 2020 of 654 mboe/d; • Financial results impacted by low commodity prices with free cash flow of €159 million, operating cash flow of €1,604 million and EBITDAX of €1,643 million; • Record low underlying production cost of €3.5 /boe; • Production and development capex of €1,237 million in line with the revised guidance; • Reduced net debt to €5.5 billion with €2.2 billion of liquidity including €821 million of cash; Wintershall Dea GmbH IR contact Press contact Friedrich-Ebert-Str.
    [Show full text]
  • Case 1:17-Cv-02041 Document 1 Filed 10/03/17 Page 1 of 14
    Case 1:17-cv-02041 Document 1 Filed 10/03/17 Page 1 of 14 UNITED STATES DISTRICT COURT DISTRICT OF COLUMBIA ----------------------------------------------------------------X : MIKHAIL FRIDMAN, PETR AVEN, AND : GERMAN KHAN, : Case No. _____/2017 c/o CARTER LEDYARD & MILBURN LLP : 2 Wall Street : New York, NY 10005, : COMPLAINT : Plaintiffs, : : -v- : : BEAN LLC (A/K/A FUSION GPS) AND : GLENN SIMPSON, : 1700 Connecticut Avenue, Suite 400 : Washington, D.C. 20009, : : Defendants. ----------------------------------------------------------------X COMPLAINT Plaintiffs Mikhail Fridman, Petr Aven, and German Khan, by their attorneys Carter Ledyard & Milburn LLP, allege as follows: INTRODUCTION 1. This is a defamation case brought by three international businessmen who were defamed in widely disseminated political opposition research reports commissioned by political opponents of candidate Donald Trump. The reports (which came to be known as the “Trump Dossier” and the “Dossier”) were published in advance of the 2016 presidential election by the Defendants: the Washington, D.C. based firm Fusion GPS (“Fusion”) and its principal Glenn Simpson, a former journalist specializing in political opposition research. In that role, the Defendants traffic in procuring damaging 8109453.2 Case 1:17-cv-02041 Document 1 Filed 10/03/17 Page 2 of 14 information about political candidates. The reports are gravely damaging in that they falsely accuse the Plaintiffs—and Alfa (“Alfa”), a consortium in which the Plaintiffs are investors—of criminal conduct and alleged cooperation with the “Kremlin” to influence the 2016 presidential election. But neither the Plaintiffs nor Alfa committed any of the acts irresponsibly attributed to them by the Defendants. To the contrary, the Plaintiffs and Alfa are collateral damage in a U.S.
    [Show full text]
  • Dea Sustainability Report 2018/2019
    019 2 / Sustainability Report 2018 DEA On May 1, 2019 Wintershall and DEA has become Wintershall Dea. Two major shareholders, BASF and LetterOne, signed a binding agreement to merge their respective oil and gas business, in September 2018. The merger was completed on May 1, 2019. This Sustainability Report provides information on DEA’s activities in the 2018 financial year until end of April 2019. In the next year a Corporate Resposibility Report will be published on Wintershall Dea’s activities in the year 2019 financial year. Sustainability Report 2018 / Compiled 30 April 2019 2019 Sustainability figures 2018 What our data tells us Durability Footprint for concessions operated by DEA 120 years of company history 2.1 kg CO2 equivalent per barrel crude oil equivalent (scope 1) Workforce 1,025 employees (annual average of Occupational safety full-time equivalents) 0 lost time injuries per 1 million hours worked (operated) Production 121 kboe per day Diversity 1 woman on the Board of Management (BoM), Economic performance 1 woman on the 1st management level below BoM, € 1,043 MM EBITDAX 14 women on the 2nd management level € 730 MM operating result below BoM (2018) Future perspectives Health rate € 95 MM total expenditure 96.7 % for environmental protection Development of 2P reserves (MM boe) Certificates 800 698 700 667 692 600 575 500 458 400 300 200 100 0 2014 2015 2016 2017 2018 DEA MANAGEMENT SYSTEMS Germany Norway North Africa Occupational Health OHSAS 18001:2007 Mexico Others and Safety Environment DIN EN ISO 14001:2015 Quality DIN EN ISO 9001:2015 Energy* DIN EN ISO 50001:2011 Investments 2018 (€ MM) 948 900 838 Auditierungsnummer Z4-20170531-6058 800 Zertifikat seit 2007 FURTHER CERTIFICATES 670 656 700 610 Safe with system 2020 2020 Zertifikat 600 BG incl.
    [Show full text]
  • MIKHAIL FRIDMAN, PETR AVEN, and Date Purchased: May 26, 2017 GERMAN KHAN, Plaintiff Designates New York County As Plaintiffs, the Place of Trial
    _____________________________ below.) INDEX NO. UNASSIGNED CAUTiON THI3 000UNENT OBS NOT YET BEEN SEVIEWED BY THE COUNTY CLUNK. (See RECEIVED NYSCEF: 05/26/2017 NYSCEF DOC. NO. 1 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK Index No.: MIKHAIL FRIDMAN, PETR AVEN, AND Date Purchased: May 26, 2017 GERMAN KHAN, Plaintiff Designates New York County as the Place of Trial. Plaintiffs, The Basis of the Venue is CPLR § 503(a) and(c). Office Address is in KEN BENSINGER, MIRIAM ELDER, AND MARK SCHOOFS, Defendants. SUMMONS TO THE ABOVE NAMED DEFENDANTS: YOUARE HEREBY SUMMONED to answer the complaint in this action and to serve a copy of your answer, or, if the complaint is not served with this summons, to serve a notice of appearance, on the Plaintiffs’ attorneys within 20 days after service of this summons, exclusive of the day of service (or within 30 days after the service is complete if this summons is not personally delivered to you within the State of New York); and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint. Dated: New York, New York May 26, 2017 CARTER LEDYARD & MILBURN LLP By: Alan S. Lewis John J. Walsh 2 Wall Street New York, New York 10005 Telephone: (212) 732-3200 Attorneysfor Plaintffs TO: BUzzfEED, INC. 111 East 18th Street New York, New York 10003 New York State court rulec (22 NYCRR §202.5-b(S) (3) ti)) Thie ion coDy of a clasSing filed electronically purcuant to electronic webite, had not yet bean reviewed and which, at the time of its rintout from the court systems authorize the County Clerk to reject aporovad by the County Clerk.
    [Show full text]
  • EXHIBIT 2 Case 1:17-Cv-02041-RJL Document 46-2 Filed 12/11/18 Page 2 of 16
    Case 1:17-cv-02041-RJL Document 46-2 Filed 12/11/18 Page 1 of 16 EXHIBIT 2 Case 1:17-cv-02041-RJL Document 46-2 Filed 12/11/18 Page 2 of 16 RECORD NO. 18-CV-0919 ~ht ~ iEI~ztrirt ut (~tmuh~a cflmzrt nf ‘~n~dz Clerk of the Court Received 12/10/2018 03:55 PM Filed 12/10/2018 03:55 PM MIKHAIL FRIDMAN, PETR AVEN, AND GERMAN KHAN, Appellants, V. ORBIS BUSINESS INTELLIGENCE LIMITED AND CHRISTOPHER STEELE, Appellees. ON APPEAL FROM CASE NO. 2018 CA 002667 B IN THE DISTRICT OF COLUMBIA SUPERIOR COURT, CIVIL DIVISION, THE HONORABLE ANTHONY C. EPSTEIN, JUDGE PRESIDING COURTESY COPY OF BRITISH HIGH COURT FILING *Alan S. Lewis, pro hac vice Kim Hoyt Sperduto J01111 J. Walsh, pro hac vice SPERDuT0 THOMPSON & GA5sLER PLC Madelyn K. White, pro hac vice 1747 Pennsylvania Avenue, NW, Suite 1250 CARTER LEDYARD & MILBuRN LLP Washington, B.C. 20006 2 Wall Street (202) 408-8900 New York, New York 10005 (212) 238-8614 (‘ounsel forAppellants (‘ounselfor Appellants THE LEX GROUP’~ + 1050 Connecticut Avenue, N.W. + Suite 500, #5190 + Washington, D.C. 20036 (202) 955-0001 + (800) 856-4419 4 www.the1exgroup.com Case 1:17-cv-02041-RJL Document 46-2 Filed 12/11/18 Page 3 of 16 IN THE HIGH COURT OF JUSTICE QUEEN’S BENCH DIVISION MEDIA AND COMMUNICATIONS LIST Claim No. HQ18M01646 BETWEEN: (1) PETER AVEN (2) MIKHAIL FRIDMAN (3) GERMAN KHAN -and ORBIS BUSINESS INTELLIGENCE LIMITED Defendant DEFENDANT’S RESPONSE TO PART 18 REQUEST UNDER PARAGRAPH 1 Of “Fusion engaged Orbis to provide the intelligence memoranda because Fusion’s client needed the information contained in those memoranda for the purposes of prospective legal proceedings and/or obtaining legal advice and/or for establishing, exercising or defending legal rights.” Your requests and our responses 1.
    [Show full text]
  • The European Union-Russia- China Energy Triangle
    Policy Contribution Issue n˚16 | December 2019 The European Union-Russia- China energy triangle Georg Zachmann Executive summary Concern is growing in the European Union that a rapprochement between Russia Georg Zachmann (georg. and China could have negative implications for the EU. We argue that energy relations [email protected]) is a between the EU and Russia and between China and Russia influence each other. We analyse Senior Fellow at Bruegel their interactions in terms of four areas: oil and gas trading, electricity exchanges, energy technology exports and energy investments. This Policy Contribution We discuss five key hypotheses that describe the likely developments in these four areas is a version of a paper in the next decade and their potential impact on Europe: prepared for the seminar ‘Trade relations between 1. There is no direct competition between the EU and China for Russian oil and gas; the EU, China and Russia’, 2. China and the EU both have an interest in curbing excessive Russian energy rents; co-organised by the 3. The EU, Russia and China compete on the global energy technology market, but specialise Delegation of the European in different technologies; Union to Russia and Bruegel 4. Intercontinental electricity exchange is unlikely; with the support of the EU 5. Russia seems more worried about Chinese energy investments with strategic/political Russia Expert Network on goals, than about EU investments. Foreign Policy (EUREN). The seminar was funded We find no evidence of a negative spillover for the EU from the developing Russia-China by the European Union. energy relationship.But, eventually, if these risks – and in particular the risk of structural The content of this paper financial disintermediation – do materialise, central banks would have various instruments to is the sole responsibility counter them.
    [Show full text]