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Linde UK Assets Transferred to Russian Firm After Gas Project Default

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About US$1.15 billion in frozen assets tied to Linde’s former gas-processing contract at Ust-Luga have been transferred to Russia’s Kuibyshevazot, after default-led debt collection. On Aug. 10, 100% of Praxair Rus LLC shares were moved to Kuibyshevazot’s balance sheet, following a Moscow court dispute involving RusChemAlliance and Linde EPC work halted under EU sanctions in 2022.

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