Today, in the framework of regular consultations, the Gazprom Headquarters has hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Jurgen Hambrecht, Chairman of the Board of Executive Directors of BASF AG.

Reference:

BASF AG is the world’s leading chemical corporation running its business in the chemicals, synthetic materials, plant protection goods as well as oil and natural gas sectors. In 2005 BASF sales volume was equal to more than EUR 42.7 billion.

BASF AG is a Gazprom’s partner in the Yuzhno-Russkoye field development and Nord Stream Pipeline construction.

On September 8, 2005 Gazprom, E.ON.AG and BASF AG signed the principle Agreement on construction of Nord Stream Pipeline (initially named as the North European Gas Pipeline Company) with the route passing from Russia to Germany via the Baltic Sea offshore section.

In December 2005 Nord Stream Pipeline (initially named as the North European Gas Pipeline Company) was established in the aim of feasibility study preparation and gas main construction. Gazprom owns 51 per cent stake in Nord Stream AG and E.ON.AG and BASF AG own 24.5 per cent each.

In July 2003, Gazprom and Wintershall AG founded the 50/50 Achimgaz joint venture with the view of developing on a contract basis the 1st pilot play of the Achimov deposits of the Urengoyskoye oil and gas condensate field. Over the entire development period (43 years), the companies plan to extract some 200 bcm of gas and 40 million tons of gas condensate, with 8.3 bcm of gas and 2.4 million tons of gas condensate to be produced on an annual basis within continuous production.