May 2011, Vol. 238 No. 5

Projects

Wintershall Leaning Toward South Stream Project

A memorandum of understanding to negotiate German Wintershall’s accession to Gazprom’s South Stream project was signed in Russia. Wintershall, a gas producer and trader, is the gas subsidiary of German BASF, the world’s largest petrochemical concern. BASF/Wintershall is one of Gazprom’s partners in the NordStream pipeline project on the Baltic seabed, in the Achimovskoye and Yuzhno Russkoye gas field developments in Siberia, and in joint marketing of gas with Gazprom in several EU countries including Germany. In that country, Wintershall helped pioneer the Gazprom-favored practice of asset-swapping, opening direct access for Gazprom to end-users. Gazpro

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