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Gazprom’s supplies to Germany climb 20.4 per cent in October

November 3, 2016, 16:25

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Mario Mehren, Chairman of the Board of Executive Directors of Wintershall Holding, took place at the Gazprom headquarters today.

The parties discussed Russian gas exports to Germany. It was noted that Gazprom’s supplies to the German market continued to grow, rising 23 per cent this September and 20.4 per cent this October versus the corresponding months of 2015.

The meeting participants also touched upon joint production projects, paying special attention to the progress of the Nord Stream 2 project.

Background

Wintershall Holding GmbH is a wholly-owned subsidiary of BASF. The company has been focused on oil and gas exploration and production for over 80 years.

Gazprom and BASF/Wintershall cooperate in gas production, transmission, storage, and marketing.

Gazprom and BASF/Wintershall are partners in the Nord Stream project.

In 2015, Gazprom and BASF/Wintershall closed the asset swap deal, according to which Gazprom increased its share in WINGAS, WIEH, and WIEE to 100 per cent, as well as received a 50 per cent stake in WINZ, the company involved in hydrocarbon exploration and production in the North Sea. Wintershall, in its turn, obtained 25.01 per cent in the project for developing Blocks 4A and 5A in the Achimov deposits of the Urengoyskoye field.

Nord Stream 2 is the project for the construction of a transit-free export gas pipeline with the annual capacity of 55 billion cubic meters running from Russia to Germany across the Baltic Sea.

In 2015, Gazprom exported 45.3 billion cubic meters of gas to Germany.

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