Russia's Gazprom, German Wintershall Energy Companies Finish Swap of Assets

Russian energy giant Gazprom and leading German energy company Wintershall have completed the swap of their assets, Wintershall's press service said in a statement, Thursday.

MOSCOW (Sputnik) — On September 4, the companies reached an agreement to complete the asset swap by the end of the year, according to a 2013 agreement.

Wintershall, a subsidiary of the German BASF chemical corporation, reported that it had received 25.01 percent of shares in two Gazprom projects for the development of the Achimov gas deposits in the Urengoy field in Western Siberia.

The statement added that in return, the German company had transferred its shares to the jointly operated natural gas trading and storage companies WINGAS, WIEH and WIEE to Gazprom. The Russian corporation also received a 50 percent stake in Wintershall Noordzee B.V., which explored and extracted oil and gas in the North Sea.