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BASF to take 35-pct stake in Gazprom's Siberian gas field: report

AFP
FRANKFURT
Petroleumworld.com 04 24 06

German chemicals giant BASF is to sign an agreement to take a 35-percent stake in Gazprom's Yuzhno-Russkoje gas field, the business daily Handelsblatt reported on Monday.

Quoting diplomatic sources in Moscow, the newspaper said that in addition to BASF taking a 35-percent stake, German energy giant E.ON would also take a 15-percent in the field, while Gazprom would maintain majority control.

The signing of the agreement would take place during German Chancellor Angela Merkel's meeting with Russian President Vladimir Putin which begins Wednesday.

The field has 700 billion cubic metres (24.5 trillion cubic feet) of proven natural gas reserves, sufficient to meet Germany's demand for seven years, the newspaper said.



AFP 04 24 06 0945 GMT

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