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Praxair Rus, a Russian company that belonged to the multinational Linde group, has moved onto the balance sheet of PJSC KuibyshevAzot, Interfax reported, citing updated data from the Unified State Register of Legal Entities.

KuibyshevAzot, a nitrogen producer, became the owner of 100 % of Praxair Rus on 10 August. Before that, from 27 July, the asset had been registered to RusChemAlliance, and from 2021 until 27 July 2026 it had belonged to the UK-registered Linde UK Holdings No.2 Limited.

Praxair Rus last published accounts for 2021, when its revenue was 4 billion rubles (48 million dollars at current exchange rates). Praxair Rus became part of Linde — a UK-based world-leading producer of industrial gases — in 2018, through the merger of the then-German Linde with the US company Praxair.

It is not clear on what basis KuibyshevAzot acquired Praxair Rus. It appears to be a consequence of the dispute between Linde and RusChemAlliance. In 2021 RusChemAlliance and Linde signed EPC (engineering, procurement and construction) contracts to build gas processing and liquefaction plants at Ust-Luga. Having received an advance payment, Linde halted work in 2022, citing EU sanctions. A Russian court upheld the claims against the foreign contractor and enforced the debt against Linde's stakes in Russian legal entities, including Praxair Rus. RusChemAlliance and KuibyshevAzot allegedly agreed, on undisclosed terms, to transfer the asset directly for use in KuibyshevAzot's own production, Neftegaz.RU writes.