The Gazprom headquarters hosted a working meeting of Alexander Ananenkov, Deputy Chairman of the Company’s Management Committee, Harald Schwager, Member of the Board of Executive Directors of BASF and Rainer Seele, Chairman of the Board of Executive Directors of Wintershall Holding.

The parties discussed the cooperation in the energy sector highlighting a significant progress in performance of Achimgaz: the joint venture brought 1A block of the Achimov deposits in the Urengoy field into commercial operation. In this context, a unanimous opinion was expressed concerning the future success of the project.

The meeting also addressed the Nord Stream project and reviewed the progress with preparation work as part of the South Stream project. Special attention was paid to the cooperation deepening and, in particular, a possible engagement of BASF and Wintershall Holding in the Eastern Gas Program.

Background

BASF is the world’s leading chemical company. Its operational activities are focused on the following key segments: chemicals, plastics, crop protection products as well as hydrocarbons extraction and transportation.

Being a wholly-owned subsidiary of BASF, Wintershall Holding operates in the power generation industry. Gazprom and Wintershall Holding have set up WINGAS and WIEH joint ventures.

In July 2003 Gazprom and Wintershall Holding set up the Achimgaz joint venture to develop block 1A of the Achimov deposits in the Urengoy field. In 2008 Achimgaz brought the block into pilot commercial operation (operation stage needed to test the field’s production potential).

BASF and Wintershall Holding partner Gazprom in developing the Yuzhno-Russkoye oil and gas field as well as implementing the Nord Stream and South Stream projects.