Severneftegazprom stock issue registration was done and relevant purchase and sale agreements were signed in the frames of the Agreement on Share Swap between BASF and Gazprom in the authorized capital of Severneftegazprom earlier approved by the Gazprom Board of Directors and BASF AG.

According to the Agreement, Gazprom will increase its stake in the authorized capital of Wingas GmbH up to 50 per cent minus one share.

In its turn, BASF AG acquired a 25 per cent stake minus one voting share and one share without voting rights, which is an equivalent of a 10 per cent stake in the project’s economy.

The rest of activities to finalize the deal will be completed in near future.

Reference:

BASF AG is a leading gas and oil chemical corporation in the world, running business in the chemicals, synthetic materials, plant protection goods as well as hydrocarbon production and transportation.

Wintershall AG, a Wintershall Holding AG 100 per cent subsidiary, holds licenses to develop and produce hydrocarbons in the frames of the concessional agreements in Libya.

Wingas GmbH was established in 1993. The company mainly is involved in gas transportation, gas storage, trading in Germany and other European countries. Wingas owns a gas main network with the total length of 2 thousand km. Additionally, the company utilizes the largest UGS in Western Europe called Rehden (Germany) and holds a stake in the Haidach UGS (Austria). In 2006 Wingas’s gas marketing reached the record level of 23.2 bcm of gas.

Severneftegazprom, Gazprom’s 100 per cent subsidiary, is the li?ense owner for hydrocarbon exploration, development and production of the Yuzhno-Russkoye gas condensate field.