BASF and Gazprom intensify their cooperation
BASF and Gazprom want to expand their successful cooperation by launching further energy projects, and make an important contribution to securing Europe's energy supplies by producing, transporting and trading natural gas. That was the outcome of top-level discussions between the Chairmen of the Boards of Executive Directors of OAO Gazprom, Alexey Miller, and of BASF AG, Dr. Jürgen Hambrecht. The talks focused specifically on the construction of the North European Gas Pipeline (NEGP) and progress of the German-Russian joint venture, OOO Achimgaz (50 percent Wintershall, 50 percent Gazprom). For Gazprom, this joint venture represents a model of how foreign partners can cooperate in gas production in Russia. Because of the positive experience made in their cooperation, the development of additional deposits was also discussed.
Since volumes produced in the North Sea are declining while demand is rising, Russian natural gas is becoming increasingly important for Central and Western Europe. Gazprom has maintained reliable gas supplies to its customers for over 30 years, without significant disruptions, not even at the height of the Cold War.
The strategic partnership between Wintershall and Gazprom has recently been expanded to international exploration and production projects, for example in North Africa. "In future projects we want to continue to make full use of the strengths of our two companies, pool our competencies and fairly share risks and earnings", says Dr. Jürgen Hambrecht.
Other news from the department business & finance
