Gazprom, BASF form gas trading firm
28 November 2007 14:47 [Source: ICIS news]
MOSCOW (ICIS news)--Gazprom and BASF have formed a joint gas trading firm, Russian-registered ZAO Gazprom YRGM Trading, to buy gas from Yuzhno-Russky gas deposit in Western Siberia, Gazprom said in a statement released on Wednesday.
Gazprom would have a 100% stake in ZAO Gazprom YRGM Trading, while BASF would own one preferred share in the firm.
The creation of ZAO Gazprom YRGM Trading was part of the asset swap transaction between Gazprom and BASF, it said.
On 25 October, Gazprom and BASF announced the completion of their asset swap deal.
BASF’s wholly-owned subsidiary Wintershall received a shareholding of 25% less one share and one preferred share without voting right in OAO Severneftegazprom (SNGP), which holds the licence to the Yuzhno-Russky field with estimated 600 bn cubic metres of gas reserves.
The deal allowed BASF to have a 35% interest in the SNGP.
In return, OAO Gazprom raised its stake WINGAS GmbH to 50% less one share.
Separately, in June 2007 WINGAS, a joint venture between Gazprom and Wintershall, planned to invest up to €3bn ($4bn) to expand the natural gas infrastructure in
The planned investments by WINGAS would involve expanding the gas pipeline system in Germany to be connected with the Nord Stream Baltic Sea pipeline, and construction of new natural gas storage facilities in Europe, including the one to be built in Saltfleetby, UK, and the one near the German-Dutch border, according to WINGAS.
Earlier this year, Gazprom indicated plans to raise its natural gas market share in
($1 = €0.67)
By: Sergei Blagov
+44 20 8652 3214
< previous article(ICIS Podcast: Chemical News Central 2 November 2009)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
Links posted in this story:
|
|
Related Articles
- 05 Nov 09 15:06 Nord Stream gas pipeline project approved by Sweden
- 13 Nov 08 17:47 German CDU party dismisses Putin pipeline threat
- 01 Jul 08 15:00 MOVES: Wingas appoints new managing director
- 29 May 08 17:27 Nabucco natgas pipeline cost soars to €7.9bn
- 04 Mar 08 17:59 Russia announces further Ukraine gas supply cut
- 18 Dec 07 11:05 Russia pledges to sustain Europe's energy security
- 05 Dec 07 13:25 Russia raises 2008 Ukraine gas price by 38%
- 04 Dec 07 10:09 Tatgazinvest, OAO Ammonia in Japanese tie-up
- 27 Nov 07 15:31 Dow could build in Germany with Russia gas
- 27 Nov 07 10:21 Gazprom, Sibur, Dow sign gas processing deal
- 07 Nov 07 17:29 Gazprom plans major petchem expansion
- 16 Oct 07 16:36 Russia wants clearer EU unbundling plan
- 03 Oct 07 12:16 Further delays set to stall Serbia's NIS privatisation
- 24 Sep 07 23:40 Global M&As strongest this year - analyst
Latest News
- 28 Nov 09 18:18 Canadian rail strike threatens to disrupt chemical shipments
- 27 Nov 09 23:59 Europe Q4 PMMA rises €0.05/kg on margin recovery
- 27 Nov 09 23:59 Europe BdG, PMA falls on weak sentiment, improved availability
- 27 Nov 09 23:59 Europe November ACN settles at rollover to minus €5/tonne
- 27 Nov 09 23:59 Europe Q4 VAM settles at €40-50/tonne increase
Barbara Ortner looks at the off-beat and unusual side of chemical industry life.
ICIS Chemicals Confidential