Gazprom, BASF form new firm

NEW YORK — OAO Gazprom, Russia’s state-run natural-gas producer, formed a company with Germany’s BASF AG to market gas from a jointly-run field in Siberia.

By (Bloomberg)

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Published: Wed 28 Nov 2007, 9:17 AM

Last updated: Sat 4 Apr 2015, 11:22 PM

The trading company will buy 35 percent of the gas produced at the Yuzhno-Russkoye field, proportional to BASF’s financial interest in the development, Gazprom said in an e-mailed statement yesterday.

The new company is part of an asset swap in which Gazprom will raise its share of joint distribution assets in Germany while BASF gains access to Russian production.

BASF, the world’s largest chemical maker, last month took 25 per cent minus one share of the common stock in license-holder OAO Severneftegazprom.

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