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Gazprom and BASF/Wintershall express appreciation for cooperation along entire value chain

Background

BASF SE is the world's leading chemical company whose product portfolio includes oil and gas, chemicals, synthetics, and petroleum derivatives.

Wintershall Holding GmbH, a wholly-owned subsidiary of BASF, is Gazprom’s partner in hydrocarbon production (the Yuzhno-Russkoye oil, gas and condensate field and Blocks 1A, 4A and 5A in the Achimov formations of the Urengoyskoye oil, gas and condensate field) and transmission (Nord Stream).

Nord Stream is the export gas pipeline with the annual capacity of 55 billion cubic meters of gas running from Russia to Germany across the Baltic Sea. The project operator is Nord Stream AG (Gazprom – 51 per cent, Wintershall Holding and Uniper – 15.5 per cent each, and Gasunie and ENGIE – 9 per cent each).

Nord Stream 2 is the construction project for a gas pipeline with the annual capacity of 55 billion cubic meters from Russia to Germany across the Baltic Sea. The project is implemented by Nord Stream 2 AG, where Gazprom is the sole shareholder. On April 24, 2017, Nord Stream 2 AG, ENGIE S.A., OMV AG, Royal Dutch Shell plc, Uniper SE, and Wintershall Holding GmbH signed the financing agreements for the Nord Stream 2 project.

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