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Tuesday, December 18, 2007

Gazprom, BASF close gas asset swap deal

BRIEFLY MOSCOW, December 17 (RIA Novosti) - Gazprom and Germany's BASF AG have closed a deal on an asset swap in the natural gas production and trade sphere, the Russian energy giant said Monday. Gazprom and Germany's chemical company BASF signed an asset swap agreement in October, and in line with the agreement Gazprom increased its share in Wingas GmbH to 50% minus one share. Wingas GmbH was formed in 1993 as a strategic alliance between Gazprom and Wintershall, a wholly-owned subsidiary of BASF AG.

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