Press release 12 October 2015
GAZPROM and BASF/Wintershall celebrate 25 years of cooperation
GAZPROM and Wintershall/BASF today held a ceremony marking the 25th anniversary of the cooperation between their companies in the town of Lomonosov, Leningrad oblast.
“25 years is a relatively short period of time. But together with our German partners, we’ve managed to achieve quite a lot in these 25 years. We began with simple cooperation in the area of gas supplies and today we work together across the entire value chain in the gas industry – from upstream to downstream. Together we’ve delivered large-scale projects that have boosted European gas market development and helped to create a gas transmission network not only in Germany, but in other European countries as well.
Our cooperation with BASF/Wintershall serves as an example of trust between companies, an example of strategic vision of business development and a striking illustration of significant contribution to the European Union’s energy security. We have great plans and ambitious new projects with our German partners ahead of us. I am absolutely sure that they will be successful”, said Alexey Miller, Chairman of GAZPROM’s Management Committee.
“Our cooperation is an important component in securing Europe’s energy supply,” BASF’s Chairman Dr Kurt Bock said to mark the the celebrations. Particularly now, in current times, Russian-German cooperation represents an opportunity, he said. “The business community can build bridges. BASF and GAZPROM intend to further extend their partnership,” said Bock. The two companies share more than just a long history. “We share the potential for a successful future together. I firmly believe that Russia is and will remain an important and reliable supplier of natural gas, oil and other natural resources for Europe. And Europe is and will remain an important and reliable market for Russia. We are proud of what we have achieved together and are actively tackling the tasks that lie ahead of us”, said Bock.
Background
BASF’s portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. Wintershall Holding is a wholly-owned subsidiary of BASF. The company has been focused on oil and gas exploration and production for over 80 years.
The year of 1990 saw the start of business relations between GAZPROM and BASF/Wintershall, which set up WIEH, a joint venture to sell natural gas in Europe. Later on, the WIEE and WINGAS joint ventures also started selling natural gas in the European market; cooperation in the gas transmission and storage sectors began.
GAZPROM and BASF/Wintershall have made a significant contribution towards the development of Europe’s gas transmission infrastructure. By building the MIDAL- STEGAL-JAGAL-WEDAL gas network, they boosted gas transmission capacities in Germany and enhance ties with other European gas transmission networks.
The year of 2011 was special for the cooperation between the companies: the Nord Stream gas pipeline directly connected the Russian supplier and European consumers. GAZPROM and BASF/Wintershall are currently engaged in another Pan-European project – the construction of Nord Stream II.
BASF/Wintershall was the first foreign company to commence natural gas production in Siberia, which it did together with GAZPROM. Today BASF/Wintershall works with GAZPROM on the development of the Yuzhno-Russkoye and Urengoyskoye fields.
On 30 September 2015, GAZPROM and BASF/Wintershall completed an asset swap deal under which GAZPROM increased its shareholding in WINGAS, WIEH, and WIEE to 100% and received a 50% stake in WINZ, a company involved in hydrocarbon exploration and production in the North Sea.
In turn, Wintershall obtained 25.01 % in the project developing Blocks 4A and 5A of the Achimov deposits in Urengoyskoye field.
______GAZPROM Information Directorate BASF/Wintershall Press Service www.basf.com www.gazprom.ru www.wintershall.com
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