18-07-03 Wintershall, the gas subsidiary of German chemicals group BASF, will become the first German company to extract natural gas in Russia.
The company will set up a joint venture with Russian gas giant Gazprom, which will trade under the name of Achimgaz and which will extract gas in the Urengoy region.

Achimgaz, which will initially invest nearly $ 100 mm in six trial drillings, is expected to extract 8 bn cm of natural gas from 82 boreholes from 2008 onwards.
Ruhrgas, the German gas group and Wintershall's competitor, is determined to follow suit and start extracting natural gas in Russia as well.