Wintershall wants to reach an agreement with Gazprom

The largest German gas company Wintershall, a subsidiary of the German chemical company BASF, is about to achieve an agreement with Gazprom about the exchange of shares before the end of the year. Gazprom may get a share in gas production at the deposits of Wintershall at the shelf of the North Sea. What parts are offered to Gazprom is not known so far. Wintershall has approximately 30 oil-and-gas sites, mostly at the shelves of Germany, Norway and Great Britain. Gazprom may offer Wintershall up to 50% in the development project of the Achimivsky rocks at the Urengoi deposit. A framework agreement on the share exchange was signed between Gazprom and Wintershall in October last year. The parties have already a JV “Achimgas”, which develops a block IA of the Urengoi deposit. The companies also carry out a joint production at the shelf of theNorth Seawithin the frame of the Wingate project. It is on a sea border of Great Britain and the Netherlands. Gazprom is a co-owner of the project. It owns 20% of shares via Gazprom Germania.

http://www.maonline.ru/mna/19385-wintershall-nadeetsya-dostich-dogovorennosti-s-gazpromom.html

Translated by Iraida Idiyatova