Tuesday, September 8, 2015

Gazprom Keeps Scoring Goals - Revives German Asset Swap Deal

Eastern Economic Forum in Vladivostok has been a big success for Gazprom which scored three mayor deals in a day:
Signed a Shareholders’ Agreement on Nord Stream 2
  • Consortium for the project is formed by Gazprom, E.ON, BASF/Wintershall, OMV, ENGIE and Royal Dutch Shell 
Provisionally agreed cooperation with Austria’s energy giant OMV
  • OMV will gain a stake in Siberia oil fields in exchange for a stake in OMV's assets in Europe
Most surprisingly, has signed a previously abandoned deal with German BASF/Wintershall
  • Germans will gain a stake in Siberia oild fields, in exchange for a Russian stake in North Sea operations, and full control of a gas trading hub in Germany with the largest underground gas storage facility in western europe

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