Gazprom and BASF spotlight importance of timely execution of Nord Stream 2 project
Background
BASF SE is a leader in the global chemical industry. The company’s portfolio includes oil and gas, chemicals, synthetics, and petroleum derivatives.
Wintershall Holding GmbH, a wholly-owned subsidiary of BASF, is Gazprom’s partner in gas transmission (Nord Stream gas pipeline) and the development of 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.
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. The gas pipeline will be brought into operation before the end of 2019.
