Gazprom can take over WINGASThe EU Commission has approved the asset swap between Gazprom and Wintershall without limitations.
The merger control application was filed with the EU Commission in October 2013. The EU Commission has completed its assessment and has approved the asset swap between BASF/Wintershall and Gazprom without limitations on December 4, 2013.
Wintershall welcomes the EU Commission’s decision. The final agreements will be signed with Gazprom as soon as possible. As previously communicated, the transaction will take place with retroactive economic effect to April 1, 2013.
Through the asset swap, Wintershall receives 25% plus one share in the blocks IV und V in the Achimov formation of the Urengoi field in western Siberia. Gazprom will take over 100% of the currently jointly run natural gas trading and storage business as well as 50% of Wintershall Noordzee B.V.
Through this step, Wintershall is further developing its partnership of more than 20 years with Gazprom. The company is becoming more active in natural gas trading and storage business, and both companies jointly driving forward production at the source. Gazprom's commitment puts WINGAS in an ideal competitive position and gives it new prospects.