Gazprom might obtain a stake in one of Wintershall’s assets in Argentina

The negotiations upon Gazprom’s entering the gas assets of Wintershall in Argentina are coming to the end. In mid July the legally binding documents might be signed with Wintershall.

On July 12-13th the President of Russia V. Putin will go to Argentina. It is planned to discuss the projects in the energy sector and the documents between Gazprom and Wintershall might be signed.

The deal might be a part of the assets’ exchange between Gazprom and BASF concern which holds Wintershall. On November 2012 Gazprom and Wintershall signed a basic exchange agreement. Wintershall will obtain 25% plus 1 share in the development of the 4th and 5th blocks of the difficult to access gas layers of the Urengoi deposit and the option to raise the stakes up to 50%. In exchange Gazprom will increase the stake in the joint with Wintershall trade, storage and gas production assets in Europe. In early December the European Commission approved the deal, it is planned to be closed in the summer.