Gazprom and BASF address joint hydrocarbon production projects in Russia

RELEASE

#Nord Stream and Nord Stream 2

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Kurt Bock, Chairman of the Board of Executive Directors of BASF, took place at the Gazprom headquarters today.

Alexey Miller (second from left) at working meeting with Kurt Bock, Chairman of Board of Executive Directors of BASF

Alexey Miller (second from left)

The parties discussed the joint efforts in the ongoing development of hydrocarbon fields in Russia. It was noted that the total amount of natural gas produced from the Yuzhno-Russkoye field since the start of field development had exceeded 215 billion cubic meters.

Alexey Miller and Kurt Bock also addressed issues related to the implementation of the 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 in a partnership with Gazprom to develop the Yuzhno-Russkoye oil, gas and condensate field and Blocks 1A, 4A and 5A in the Achimov deposits of the Urengoyskoye oil, gas and condensate field.

Nord Stream is the export gas pipeline with the annual design capacity of 55 billion cubic meters of gas running across the Baltic Sea to Germany. The project operator is the Nord Stream AG joint venture (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.