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Element NL statement on the situation in Ukraine

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We are shocked by recent developments in Ukraine, and we offer Ukrainians our deepest sympathies. They are the biggest victims of this horrible and unjust war. But there are concerns in the Netherlands too. The Dutch oil and gas industry, united in Element NL, is looking at what this means for energy security for the Netherlands.

The situation highlights how our country is dependent on imported gas. We are exploring all options to reduce this dependence on imported gas as far as possible. To ensure that the Netherlands has enough energy to meet its needs,. Element NL is currently identifying what options are available in the short, medium and longer terms. We want to offer the Netherlands specific solutions to maintain our security of supply, such as increasing production capacity from the small fields or increasing gas storage. But, obviously, only where this can be done safely and responsibly, and with respect for people and the environment. We will work closely with the government on these solutions.

Traditionally, international relations and collaborations within the oil and gas industry have been intense and deep-rooted. Any sanctions or other measures against Russia or Russian-based companies may have an impact on our members too. Whether and to what extent this may happen is currently impossible to predict. At present, no Element NL members are on any sanctions list. Of course, we will continue to closely monitor government policies and current national and international rules.

Wintershall Noordzee:
Element NL is the trade association for companies licensed to explore for and produce oil and gas in the Netherlands. Element NL represents the collective interests of the industry and not those of individual members. Wintershall Noordzee is one such member. Wintershall DEA and Gazprom International each hold a 50% equity stake in Wintershall Noordzee. No employees of either shareholder are active in the industry association and any positions held on the board of Element NL have always been fulfilled by an employee of Wintershall Noordzee. Despite Wintershall Noordzee being a Dutch entity, we understand that there are questions and concerns about the possible involvement of Russian influences within the Dutch oil and gas industry.
To avoid confusion and clarify this situation, Element NL and Wintershall Noordzee have decided on close consultations to freeze any governance relationships. This means that, for the time being, Wintershall Noordzee will not take part in decision-making process within Element NL. We have taken the same step is taken with regard to Wintershall Noordzee's involvement in Nexstep (the National Platform for Re-use & Decommissioning founded by Element NL and EBN).


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