Gazprom, BASF strengthening ties

St. Petersburg International Gas Forum was the meeting venue for Gazprom and BASF executives where they addressed strategic cooperation issues.

Alexey Miller of Gazprom and Kurt Bock, Chairman of BASF’s Board addressed the strategic cooperation issues, particularly an asset swap deal between Gazprom and Wintershall Holding, Gazprom said in a statement.

It was pointed out that the swap would enable the companies to substantially strengthen their positions along the entire value chain from upstream to downstream.

In addition, the meeting participants paid attention to the joint development of the Urengoyskoye and Yuzhno-Russkoye fields as well as exchanged their opinions on the progress with joint infrastructure projects including South Stream. Gazprom added.

Press Release, October 8, 2014; Image: Gazprom