Gazprom states progress in South Stream preparation
Gazprom has announed about the making of progress in the preparation of a new shareholder agreement for the joint project on the Sea site of the South Stream project of 2 new participants , the German Wintershall Holding and the French EDF.
The information management of Gazprom told UNIAN as a result of the meeting of A. Miller with the chairman of BASF SE K. Bock, a member of the executive directors committee of BASF SE H. Schwager and the chairman of Wintershall Holding GmbH R. Seele.
The work on the preparation of a new shareholder agreement of the joint project on the sea site of South Stream is connected with the joining to the JV of 2 new participants - Wintershall Holding and EDF was highly likely, the report says.
Moreover, the parties stated the successful development of cooperation in such spheres as the the exchange of experience and personnel training, scientific and technical cooperation, oil and gas chemicals sphere.
BASF SE is the leading chemicals company in the world. Its activities are carried out in the following directions: the production of chemical agents, synthetic materials, production for plants protection and also the production and transportation of hydrocarbons.
Wintershall Holding GmbH is a 100% affiliate of BASF, it works in the energy sphere.
BASF SE and Wintershall Holding GmbH are the partners of Gazprom OAO in the development of the Yuzhno-Russky oil and gas chemicals deposits, the development of the first test field of the Achim layers of the Urengoi oil and gas condensate deposit and also the construction of the gas pipeline Nord Stream.
On March 21st 2011 Gazprom and Wintershall Holding signed a memorandum of understanding regarding the South Stream project presupposing the joining of the German partner to the realization of the sea site of the gas pipeline.
The memorandum states that the stake of Wintershall Holding in the joint project responsible for the realization of the sea site of the South Stream is 15%, Gazprom keeps 50%.
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Translated by Galiya Davletgareeva
