Through the transaction, BASF’s 100% owned subsidiary Wintershall will gain a 25% stake plus one share in blocks IV and V in the Achimov gas and condensate formation at the Urengoi field in the region. The two blocks will be jointly developed by Gazprom and Wintershall.
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
