Gazprom, Wintershall finalize asset swap

Russian gas giant Gazprom, and Germany’s largest oil and gas producer Wintershall said they completed the previously announced asset swap.

As a result of the deal, Gazprom increased its share in European gas trading and storage companies WINGAS, WIEH and WIEE to 100 percent as well as received a 50 percent stake in WINZ involved in hydrocarbon exploration and production in the North Sea.

In its turn, Wintershall,  a wholly-owned subsidiary of BASF obtained 25.01 percent in the project for developing Blocks 4A and 5A in the Achimov deposits of the Urengoy oil, gas and condensate field.


Image: Gazprom