Wintershall to invest € 1 billion to joint gas production in Urengoy with Gazprom
Wintershall, a 100% subsidiary of BASF is going to invest € 1 billion to joint gas production in Urengoy with Gazprom, the Chairman of Wintershall Board R. Sele reports in the interview to Russia Today. The volume of investment will depend upon the scheme of the deposit's development. In March 2011 Gazprom and Wintershall agreed to the development on a parity basis of 2 additional achimovsky layers at Urengoy deposit. In exchange Gazprom gets equal shares in Wintershall projects for gas exploration and production in the North Sea. Wintershall becomes the third foreign partner of Gazprom in South Stream getting a share of 15%. BASF and Wintershall are Gazprom partners in South Russian oil and gas deposit development and in the construction of the Nord Stream pipeline.
Translated by Nadezhda Poltoratskaya
