Sochihosted today a meeting of the Coordinating Committee for Strategic Cooperation between Gazprom and BASF.

The meeting was led by the Joint Coordinating Committee Co-Chairmen – Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Harald Schwager, Member of the BASF Board of Executive Directors.

The Coordinating Committee members discussed the implementation of joint projects of Gazprom and BASF/Wintershall Holding. The meeting participants addressed the progress with the programs covering natural gas exploration, production and transmission. In addition, the meeting considered the information on the companies' interaction with regard to sci-tech cooperation, petrochemistry, energy efficiency, ecology as well as staff training and career development.

The Coordinating Committee members placed emphasis on the successful implementation of the project for developing the Achimov deposits in the Urengoy field (Achimgaz). The project progresses in line with the approved project concept. In 2013 hydrocarbon production is expected to nearly double as compared to 2012 due to efficient drilling and new wells commissioning.

The meeting mentioned the results of the Yuzhno-Russkoye field development showing a total of 117 billion cubic meters of gas produced during the five years since the field commissioning.

The urgency of using chemical products and technologies for well drilling and cementing as well as for oil and gas production, transmission and processing was negotiated in the framework of petrochemical cooperation between Gazprom and BASF.

The Coordinating Committee members considered sci-tech cooperation between the companies, pointing out the following prospective areas: establishing international quality specifications for supplied gas, enhancing the efficiency of managing large-scale investment projects, joint research of technologies for the effective development of gas and gas and condensate fields as well as process safety and environmental protection.

The parties addressed the results of the companies' activities related to personnel development. 213 experts from both companies attended 14 joint seminars in 2012.

At the end of the meeting the parties outlined plans for joint projects in 2013 as well as discussed new forms of cooperation and promising projects.

Background

BASF is the world's leading chemical company. Its major business lines include production of chemicals, synthetic materials, plant protection products as well as hydrocarbons production and transportation.

Being a wholly-owned subsidiary of BASF, Wintershall Holding operates in the energy sector. Gazprom and Wintershall Holding set up the following joint ventures: WINGAS, WIEH and WIEE.

BASF and Wintershall Holding are partners of Gazprom in developing the Yuzhno-Russkoye field and the Achimov deposits in the Urengoy field, as well as in implementing the Nord Stream and the South Stream projects.