Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   
 


Home > News

BASF and Gazprom complete asset swap

01.10.2015 10:50 "Agro Perspectiva" (Kyiv) BASF and Gazprom have completed the swap of assets with equivalent value effective at the end of September 30, 2015, financially retroactive to April 1, 2013. With the swap, BASF is further expanding its production of oil and gas and has exited the gas trading and storage business.

Through the transaction, Wintershall, a 100% subsidiary of BASF, receives the economic equivalent of 25.01% of the blocks IV and V in the Achimov formation of the Urengoy natural gas and condensate field in Western Siberia. The two blocks will be jointly developed by Gazprom and Wintershall. According to the development plan confirmed by the Russian mining authority, blocks IV and V have total hydrocarbon resources of 274 billion cubic meters of natural gas and 74 million metric tons of condensate. This is equivalent to a total of 2.4 billion barrels of oil equivalent (boe). An annual plateau production of at least 8 billion cubic meters of natural gas is expected from the two blocks. Production is planned to start in 2018.

In return, Wintershall has transferred its share in the previously jointly operated natural gas trading and storage business to its long-term partner Gazprom. This includes the 50% participation in the gas trading companies WINGAS, WIEH (Wintershall Erdgas Handelshaus Berlin) and WIEE (Wintershall Erdgas Handelshaus Zug) including shares in astora, which operates the natural gas storage facilities in Rehden and Jemgum, Germany, as well as a share in the natural gas storage in Haidach, Austria. Gazprom also received a 50% share in the activities of Wintershall Noordzee B. V., which is active in the exploration and production of oil and gas in the southern North Sea (the Netherlands, the UK and Denmark). Together these activities contributed about 12.2 billion to sales and around 260 million to EBITDA of BASF Group in 2014 and about 7.2 billion to sales and around 240 million to EBITDA of BASF Group in the first half of 2015. The successful partnership with Gazprom in the area of gas transportation activities will continue.

Following the closing of the transaction, Dr. Gerhard König has left the Board of Executive Directors of Wintershall Holding GmbH and has transferred to Gazprom Group in his function as Chairman of WINGAS.

At BASF, we create chemistry — and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the worlds leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of over 74 billion in 2014 and around 113,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

Wintershall Holding GmbH, based in Kassel, Germany, is a wholly owned subsidiary of BASF in Ludwigshafen. The company has been active in the extraction of natural resources for 120 years, and in the exploration and production of crude oil and natural gas for over 80 years. Wintershall focuses on selected core regions, where the company has built up a high level of regional and technological expertise. These are Europe, Russia, North Africa, South America, and increasingly the Middle East region. The company wants to expand its business further with exploration and production, selected partnerships, innovation and technological competence. The company employs more than 2,500 staff worldwide from 40 nations and is now Germanys largest crude oil and natural gas producer.

Agro Perspectiva

< EBRD approves US$300 mln loan for Ukraine to buy gas from Europe All news for
01.10.2015
Government-backed foreign-language broadcasting platform to launch Oct 1 >

05.05.2023  
14:45 The FAO Food Price Index rebounded slightly in April
28.04.2023  
09:15 Yara . 1Q results impacted by falling prices, but tighter nitrogen market into 2Q
21.04.2023  
22:10 Ukraine sees no reason to ban Ukrainian grain imports by EU countries - Solsky
18.04.2023  
21:45 $5 million from FAO-China South-South Cooperation Programme will assist in building more resilient agrifood systems
21:05 China Becomes Worlds Largest Wheat Importer in 2022/23
14.04.2023  
09:52 EBRD and Spain join forces to support Ukraines food security and municipal sector
05.04.2023  
13:10 Astarta starts 2023 planting season
31.03.2023  
00:27 War in Ukraine continues to impact EU farmers
28.03.2023  
22:17 Ukraine sends 150,000 tonnes of wheat to Asia
12:00 Global onion prices are at record-high levels due to a global shortage of onions
12.03.2023  
06:17 It will enrich Egypt if a kilo of onions costs HUF 1,000
10.03.2023  
11:03 Plummeting Argentina Soybean Production Impacts Global Soybean and Products Trade
10:15 Argentina Drought Cuts Corn Exports with Lowest Global Trade in Three Years
03.03.2023  
15:25 Early production outlook for 2023 wheat crops
14:05 FAO Food Price Index declines for the 11th consecutive month
02.03.2023  
15:55 Malaysias vegetable prices set to soar again due to wet weather
12:23 FAO outlines three pillars of action for initiatives in Ukraine in 2023
11:25 The Latin America and the Caribbean has the highest cost of a healthy diet compared to other regions
11:15 Pistachios. Global production for 2022/23 is forecast to 791,000 MT
01.03.2023  
10:46 Kharkiv Dairy Plant continues to produce dairy products thanks to generator received from Government of Germany
23.02.2023  
15:57 Ukraine seeks to extend "Grain deal" for 12 months year to involve more ports - deputy minister
15:53 Vegetable prices were constantly rising over past two weeks
15:33 ICMSA say suspicions growing around fertiliser sellers reluctance to quote prices for orders
22.02.2023  
14:35 Finland supports Ukraines grain exports
16.02.2023  
08:13 U.S. Soybean Oil Exports Forecast at Record Low
09.02.2023  
10:11 Brazil and the United States Vie for Worlds Top Corn Exporter
01.02.2023  
00:30 Asia-Pacific. In 2021, 396 million people in the region were undernourished - a new report by four UN agencies
30.01.2023  
10:05 Global chicken meat production for 2023 is virtually unchanged from the October forecast at 102.9 MMT
27.01.2023  
17:49 South Africa exports of tangerines/mandarins are forecast to grow by almost 8 percent in 2022/23
15.01.2023  
08:36 Israels planted citrus area in MY 2022/23 is forecast to be 16,200 ha
08:03 Record South American Soybean Supplies Forecast Despite Falling Argentina Crop
07:35 China Total Meat Imports Forecast Higher in 2023
13.01.2023  
06:26 U.S. Sorghum Exports Fall Precipitously
07.01.2023  
19:25 World food prices dip in December. FAO Food Price Index ends 2022 lower than a year earlier
04.01.2023  
16:50 A $15.5 million EU-funded project aims to respond to disruptions to the agricultural sector caused by war
22.12.2022  
15:15 Somalia: FAO calls for fully funded, at-scale and sustained life-saving and livelihoods support to pull people from the brink of famine
12.12.2022  
23:32 Burma importing soybean meal to grow aquaculture industry
10.12.2022  
09:37 Argentina wheat exports fall while Australia soars
09.12.2022  
20:32 Record India Soybean Meal Premiums Disrupt Trade Flows
04.12.2022  
17:09 Global cereal production and trade forecast to fall to three-year lows
17:06 45 countries need external assistance for food
16:37 Global food prices overall hold steady in November
01.12.2022  
04:16 Cargill announces acquisition of Owensboro Grain Company
03:14 FAO and Pacific nations weigh local innovations as solutions to growing climate and nutrition challenges
02:37 Global Environment Facility tasks FAO and IFAD to lead new $230 million agrifood systems transformation program
02:15 Cargill Appoints Brian Sikes as President and Chief Executive Officer, and Dave MacLennan as Executive Chair of the Board
23.11.2022  
05:44 Australia sugar production for 2022/23 is estimated to rise slightly to 4.4 MMT
21.11.2022  
07:54 U.S. provides up to $20 mln for Grain from Ukraine initiative
07:25 Grain from Ukraine program foresees provision of at least 5 mln people with grain until end of spring 2023
16.11.2022  
10:02 World sugar production - 179.6 million tonnes - FAOs preliminary forecast

Also available: 


NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2023 © Agrarika, ltd.
tel.: +380 67 4473802; +380 67 5964652
e-mail: client@agroperspectiva.com