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Gazprom

December 8, 2011

Gazprom and BASF discuss progress with current projects

Berlin hosted today a working meeting between Alexey Miller, Chairman of the Management Committee of Gazprom and Kurt Bock, Chairman of the Board of Executive Directors of BASF.

The meeting examined the current issues of bilateral cooperation. In particular, the Chairmen discussed the progress with previous bilateral Agreements.

The parties noted successful development of Achimgaz , the joint venture that had started commercial production of the first pilot block of the Achimov deposits in the Urengoyskoye field.

Joint efforts of Gazprom and BASF as part of the pilot project for gas production from the Turonian deposits of the Yuzhno-Russkoye field were also appreciated.

Alexey Miller and Kurt Bock discussed the issues surrounding the operation of Nord Stream's first string. They noted that the gas pipeline's operational systems adjustment and gas supplies were carried out according to the schedule as planned.

The parties also discussed the South Stream project. The partners confirmed their intention to execute it within the preset deadlines.

It was decided to continue a dialogue on the bilateral cooperation deepening in the international gas market.

Background

BASF is one of the leading gas and petrochemical companies of the world. Its business activities are performed along the following primary lines: the production of chemicals, synthetic materials, plant protection products, as well as hydrocarbons extraction and transportation.

Wintershall Holding is BASF's 100 per cent subsidiary operating in the energy sector. Gazprom and Wintershall Holding established WINGAS and WIEH as joint ventures.

In July 2003 Gazprom and Wintershall Holding set up the Achimgaz joint venture to develop the first pilot block of the Achimov deposits in the Urengoyskoye field. In 2008 Achimgaz brought the block into pilot operation.

In October 2011 Gazprom and Wintershall Holding signed a Framework Agreement specifying a possibility of joint development for two blocks of the Achimov deposits in the Urengoyskoye field as well as Gazprom's receipt of the equivalent shares in oil and gas prospecting and production projects of Wintershall in the North Sea.

BASF and Wintershall Holding partner Gazprom in developing the Yuzhno-Russkoye field and executing the Nord Stream and South Stream projects.

 

 

 

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