Gazprom, BASF held asset exchange that was delayed due to political motives

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Gazprom, BASF held asset exchange that was delayed due to political motives

VLADIVOSTOK. Sept 4 (Interfax) - Gazprom and BASF signed an agreement on the conclusion of deal on the exchange of assets between Gazprom and Wintershall Holding GmbH (belongs to BASF), the companies said in a press release.

As a result of the deal Gazprom will increase its stake to 100% in the joint trading companies for the trade and storage of gas in Europe, Wingas, WIEH, WIEE and also will receive a 50% stake in the WINZ company, which carries out the exploration and production of hydrocarbons in the Northern Sea.

Wintershall will receive a 25.01% stake of economic participation in the project for the development of the 4A and 5A sections of the Achimov deposits of the Urengoiskoye oil and gas condensate field.