Russian Gazprom to produce gas in North Sea

Nov 01, 2011 12:00 AM

Russia’s Gazprom, the world largest natural gas company, will start production in the North Sea, one of its first moves to produce gas in Western Europe under an agreement with BASF.

The companies said in a joint statement that Gazprom will get stakes in gas fields in the North Sea operated by BASF oil and gas unit Wintershall. Wintershall in return will get more stakes in Achimov layers of the Urengoy deposit in Siberia where the German company is already producing gas with the Russian provider.
Mr Alexei Miller Gazprom head said that, "The constructive partnership between Gazprom and BASF/Wintershall enables us to tackle technically complex and ambitious projects."

Gazprom is expanding into Western Europe to participate more in the continent's lucrative market.
In December it will start shipping gas directly to the region through a Baltic Sea pipeline, though efforts to gain direct access to customers have been foiled by wary governments such as in Britain.

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