BASF - We create chemistry
On 12 November 2008, BASF and Russia’s OAO Gazprom officially launched natural gas production at the joint venture ZAO Achimgaz in Siberia. The German-Russian joint venture produces natural gas and condensate from the Achimov Formation, from which it also gets its name, in the Urengoy deposit. The joint venture plans to recover up to 200 billion cubic meters of natural gas and 40 million tonnes of condensate from the Achimov Formation over a period of more than 40 years. The annual natural gas production target during the plateau phase is up to 7.5 billion cubic meters. Dr. Jürgen Hambrecht, Chairman of the Board of Executive Directors of BASF SE (right), and Alexei B. Miller, CEO of OAO Gazprom, opened a valve together to launch production at the deposit, which lies about 3,500 kilometers north-east of Moscow.
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