Alexey Miller, Chairman of the Gazprom Management Committee and Harald Schwager, Member of the Board of Executive Directors of BASF, Chairman of the Supervisory Board of Wintershall Holding signed today at the Gazprom headquarters a Master Agreement to swap assets between Gazprom and Wintershall Holding (Wintershall).
As a result of the deal, Gazprom will increase its stakes in European gas trading and storage companies WINGAS, WIEH and WIEE to 100 per cent as well as receive a 50 per cent stake in WINZ involved in hydrocarbon exploration and production in the North Sea.
In its turn, Wintershall will obtain a 25.01 per cent share in the project for developing blocks 4A and 5A in the Achimov deposits of the Urengoyskoye oil, gas and condensate field.
On December 4, 2013 the asset swap deal was approved by the European Commission.