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2015-10-06 19:35:00

GAZPROM & BASF SWAP

GAZPROM & BASF SWAP

Germany's BASF and Russia's Gazprom completed the swap of assets with equivalent value effective at the end of September 30, 2015, financially retroactive to April 1, 2013.

As a consequence, the gas trading companies WINGAS, WIEH, WIEE as well as the storage operator astora are an entirely part of the Gazprom group.

'Gazprom has also received 50 per cent in Wintershall Noordzee B.V., which is involved in hydrocarbon exploration and production in the North Sea. In turn, Wintershall has obtained 25.01 per cent in the project for developing blocks 4A and 5A in the Achimov deposits of the Urengoy oil, gas and condensate field' Wingas wrote on its website.

The two blocks in West Siberia will be jointly developed by Gazprom and Wintershall, while Gazprom will have access to fields offshore Netherlands, the UK and Denmark, Wintershall wrote on Thursday.

WINGAS' Chairman Gerhard König said that the Kassel-based company will continue to develop its business in "Germany and other core European markets".

'With the swap, BASF is further expanding its production of oil and gas and has exited the gas trading and storage business' reads a note released by BASF.

Gazprom did not publish the news on its website, rather giving space to its push towards a stronger position in the Asian-Pacific.

According to Azeri newspapers, a few hours commencing gas supplies to Azerbaijan on Tuesday, Gazprom is mulling stronger cooperation with India.

"Currently, Gazprom continues to explore the possibilities of its involvement in energy projects in India" the company's press office told Trend on Thursday.

naturalgaseurope.com

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Tags: GAZPROM, BASF

Chronicle:

GAZPROM & BASF SWAP
September, 22, 08:50:00

RUSSIA - KURDISTAN INVESTMENT

Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.

GAZPROM & BASF SWAP
September, 22, 08:45:00

IRAN'S GAS EXPORT: ABOVE 5 BCM

Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.

GAZPROM & BASF SWAP
September, 22, 08:40:00

IRAQI OIL TO U.S.

Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.

GAZPROM & BASF SWAP
September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

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