Wintershall will gain a 25% plus one share in blocks IV and V in the Achimov gas and condensate formation at the Urengoi field in the region that will be jointly developed by the pair, with the option of increasing its stake to 50%, under the pact agreed on Wednesday.
In return, Gazprom will take over Wintershall’s gas trading and storage business that is currently jointly operated by the long-time partners, including 50% stakes in trading outfits Wingas, Wieh and Wiee, and shares in storage facilities at Rehden and Jemgum in Germany as well as at Haidach, Austria.
The
