ADVERTISEMENT

Gazprom and Germany’s BASF form JV

Energy Trade

Gazprom and German chemicals giant BASF AG have formed a joint venture Gazprom NSGP Trading, the press office of the Russian energy holding reported today.

According to the agreement on asset swap, Gazprom owns 100% of the new company’s common shares, while BASF AG owns one preferred share. The joint venture was formed as part of an asset swap deal between Gazprom and BASF. The new company will purchase natural gas at Severneftegazprom, the license holder for the Yuzhno-Russkoye gas field in western Siberia, and sell it proportionally to BASF’s share in the development of the gas deposit.

BASF, the world’s largest chemical maker, last month took 25% minus one share of the common stock in license-holder OAO Severneftegazprom, reported Bloomberg. (tradingmarkets.com)

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.