BASF & GAZPROM DEAL
German chemicals group BASF and Gazprom agreed to revive a deal that collapsed in late 2014 to swap gas assets that will see BASF exit gas trading and storage and the Russian energy giant expanding into Western Europe, BASF said on Friday.
BASF said the surprise deal would be based on conditions already agreed to by the two firms in 2013 and would conclude by the end of 2015.
The two firms abandoned the swap agreement in late 2014 after companies across Europe suffered under tensions between Moscow and the West, particularly due to the conflict in Ukraine.
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