Received in exchange for the sale of production
"Gazprom" and BASF signed an agreement on exchange of assets. "Gazprom" will receive 100% of the joint venture with BASF, which sells gas and gas storage management, as well as 50% subsidiary of the Group, engaged in the production of hydrocarbons in the southern North Sea. In exchange for the monopoly to provide a blocking partner in the new blocks Achimov deposits in the Urengoy field.
Chairman of the Board of "Gazprom" Alexey Miller, Chairman of the Board and Executive Directors of BASF Kurt Bock signed a legally binding agreement on the exchange of assets. This was announced today that BASF.
By convention, Wintershall (100% owned by BASF) will get 25% plus one share in the fourth and fifth blocks of the Achimov deposits in the Urengoy deposit and an option to increase its stake to 50%. According to BASF, based on data Rosnedr, inventories of blocks is 274 billion cubic meters of gas and 74 million tons of gas condensate. Prey that the plateau should be at least 8 billion cubic meters per year, is scheduled to begin in 2016.
"Gazprom" on the other hand will lead to 100% of its stake in the marketing joint venture with Wintershall — in Wingas, where the monopoly previously owned 50% minus 1 share and WIEH and WIEE, which the parties owned on a parity basis. With these shares to "Gazprom" shares will also shift the three underground storage facilities in Germany and Austria, as well as gas storage operator astora. Under the deal, the monopoly also acquires 50% of Wintershall Noordzee BV., A company that has exploration and production of gas in the southern North Sea (Netherlands, Denmark, UK). According to BASF, the share of assets in transition to "Gazprom" in 2011 amounted to € 8,6 billion in revenue of the Group and € 350 million in EBIT.
The transaction is expected to close before the end of 2013.
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