17:59 GMT +321 November 2019
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    Launch of second section of Nord Stream gas pipeline

    Gazprom, BASF Discuss Strengthening Cooperation, Nord Stream 2 Project

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    The CEO of Russia's energy giant Gazprom and his counterpart from Germany's BASF chemicals company discussed the prospects for joint development of the Achimov gas deposits in the Russian northern Urengoy field and the Yuzhno-Russkoye field, as well as the Nord Stream 2 project progress, Gazprom said on Monday.

    MOSCOW (Sputnik) — Alexey Miller and Kurt Bock also discussed the cooperation on gas transport from Russia to Germany, the company said in a statement published on the website, noting that "special attention was given to the gas pipeline project North Stream 2."

    According to the statement, the two company chiefs have concluded that the "project is being implemented according to schedule and have expressed their confidence that the pipeline will be put into operation before the end of 2019."

    BASF and its subsidiary Wintershall Holding GmbH, Germany's largest internationally active oil and gas producer, are Gazprom's partners on several developing projects, including the Yuzhno-Russkoye oil and gas field, several sections of the Achimov deposits in the Urengoy gas field, as well as the Nord Stream and Nord Stream 2 gas pipelines.

    The Yuzhno-Russkoye field was discovered in 1969. Gazprom started negotiations with BASF on its development in 2004 and launched the joint project in December 2007.

    Gazprom and its partner companies signed a shareholders agreement on the Nord Stream 2 gas pipeline in September 2015. BASF/Wintershall hold 10 percent of the shares in the project.

    Nord Stream 2 could provide up to 55 billion cubic meters of direct gas supplies from Russian shores through the Baltic Sea, bypassing Baltic States and Poland, to the German coast.

    Topic:
    Nord Stream pipeline project (14)

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    Nord Stream 2, Gazprom, BASF, Alexei Miller
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