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Gazprom and Wintershall close asset swap

WINGAS becomes wholly owned Gazprom subsidiary

Kassel, 1 October 2015. Gazprom and BASF-Wintershall have now completed the long-planned asset swap. From now on, the gas trading companies WINGAS, WIEH, WIEE as well as the storage operator astora are an entirely part of the Gazprom group.

Gazprom has also received 50 per cent in Wintershall Noordzee B.V., which is involved in hydrocarbon exploration and production in the North Sea. In its turn, Wintershall has obtained 25.01 per cent in the project for developing blocks 4A and 5A in the Achimov deposits of the Urengoy oil, gas and condensate field.

“For more than 40 years Gazprom has been a reliable supplier to Europe. Stronger positions of the company in European gas storage and marketing segments make a guarantee of customers stable gas supply,” said Alexey Miller, Chairman of the Management Committee of Gazprom.

“Together with Gazprom, we want to successfully continue to develop our trading and storage business in Germany and in other core European markets“, explained Dr. Gerhard König, Chairman of WINGAS, the closing of the asset swap between both present shareholders. Following the closing of the transaction, Dr. Gerhard König has left the Board of Executive Directors of Wintershall Holding GmbH and has transferred to Gazprom Group in his function as Chairman of WINGAS.