Russian gas monopoly Gazprom and German chemical company BASF discussed the already operational Nord Stream gas pipeline as well as plans to build a second pipeline project from Russia to Germany that will be known as Nord Stream-2.
Gazprom CEO Alexey Miller, Chairman and BASF Chairman Martin Brudermueller held a working meeting in St Petersburg on May 28. According to Gazprom, the meeting covered a broad range of issues related to cooperation between the companies, including joint projects for hydrocarbon development in Russia.
Turning to Nord Stream, Gazprom said that Miller and Brudermueller noted, “that the pipeline provided reliable supplies of Russian gas to thousands of companies and millions of households across Europe every day.”
“The parties paid particular attention to the implementation of the Nord Stream-2 project,” Gazprom said.
Nord Stream is the export gas pipeline with an annual capacity of 55 billion cubic meters of gas running across the Baltic Sea from Russia to Germany. The pipeline is operated by the Nord Stream AG joint venture (Gazprom – 51%, Wintershall and E.ON – 15.5% each, and Gasunie and ENGIE – 9% each). The first and second strings of Nord Stream were brought into operation in November 2011 and October 2012.
When completed, Nord Stream-2 with have an annual capacity of 55 billion cubic meters that can be transported from Russia to Germany across the Baltic Sea.
Gazprom and BASF/Wintershall closed the asset swap deal in 2015. As a result, Wintershall obtained 25.01% in the project for developing Blocks 4A and 5A in the Achimov formations of the Urengoyskoye field. Block A1 is developed by Achimgaz, a joint venture formed by Gazprom Dobycha Urengoy and Wintershall on equal terms.