Background

BASF SE's portfolio includes oil and gas, chemicals, synthetics, and petroleum derivatives.

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.

The Yuzhno-Russkoye oil, gas and condensate field, one of Russia's largest fields, is located in the Yamal-Nenets Autonomous Area. The field is developed by Severneftegazprom, a joint venture of Gazprom (40 per cent), Wintershall (35 per cent), and Uniper (25 per cent).

Block A1 in the Achimov deposits of the Urengoyskoye oil, gas and condensate field is developed by Achimgaz, a joint venture formed by Gazprom Dobycha Urengoy and Wintershall on equal terms.

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 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.

In 2015, Gazprom exported to Germany a record high of 45.3 billion cubic meters of gas (17.1 per cent more than in 2014). In September 2016, Gazprom’s deliveries to Germany grew by 23 per cent compared to September 2015.