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  • BASF Group company Wintershall sells share in South Stream Transport B.V.
    édité le 02/01/2015 - Plus de news de "Wintershall" - Voir la fiche entreprise de "Wintershall"


BASF Group company Wintershall sells share in South Stream Transport B.V.
The BASF Group company Wintershall today sold on December 29, its 15-percent share in South Stream Transport B.V. to OAO Gazprom. As per the shareholders’ agreement, the purchase price reimburses the cash invested by BASF. The parties agreed not to disclose the purchase price. The other European shareholders of South Stream Transport B.V., ENI from Italy (20%), and EDF from France (15%) also sold their shares to Gazprom.

South Stream Transport B.V. was founded to construct the offshore portion of the South Stream pipeline through the Black Sea.

About South Stream

South Stream is Gazprom's global infrastructure project aimed at constructing a gas pipeline with a capacity of 63 billion cubic meters to Southern and Central Europe for the purpose of diversifying the natural gas export routes and eliminating transit risks. The first gas will be supplied via South Stream in late 2015. The gas pipeline will reach its full capacity in 2018.
Eni holds a 20 per cent stake in South Stream Transport, a joint project company focused on the construction of South Stream's offshore section. Italy is the second largest importer of Russian gas to the EU after Germany. In 2013 the volume of Gazprom's supplies to Italy made up 25.3 billion cubic meters of gas.

About BASF

At BASF, we create chemistry – and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of about €74 billion in 2013 and over 112,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

About Wintershall

Wintershall Holding GmbH, based in Kassel, Germany, is a wholly owned subsidiary of BASF in Ludwigshafen. The company has been active in the extraction of natural resources for 120 years, and in the exploration and production of crude oil and natural gas for over 80 years. Wintershall focuses on selected core regions where the company has built up a high level of regional and technological expertise. These are Europe, Russia, North Africa, South America, and increasingly the Middle East region. The company wants to expand its business further with exploration and production, selected partnerships, innovation and technological competence. The company employs more than 2,500 staff worldwide from 40 nations and is now Germany’s largest crude oil and natural gas producer.


Origine : Communiqué Wintershall

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