The chairman of Gazprom’s management committee Alexey Miller and the chairman of the board of executive directors of BASF Martin Brudermueller had a working meeting in St. Petersburg on May 28, 2018. The meeting covered a broad range of issues related to the companies’ cooperation, including joint projects for hydrocarbon development in Russia.

Alexey Miller and Martin Brudermueller discussed the Nord Stream gas pipeline that has been brought into operation. It was noted that the pipeline provided reliable supplies of Russian gas to thousands of companies and millions of households across Europe every day. The parties also addressed the implementation of the Nord Stream 2 project.

BASF is a leader in the global chemical industry. The company’s portfolio includes oil and gas, chemicals, synthetics, and petroleum derivatives.

In 2015, Gazprom and BASF/Wintershall closed an asset swap deal. As a result, Wintershall obtained 25.01 percent in the project for developing Blocks 4A and 5A in the Achimov formations of the Urengoyskoye field. Achimgaz develops Block A1 through a joint venture formed by Gazprom Dobycha Urengoy and Wintershall on equal terms.

Nord Stream is a gas-exporting pipeline with an annual capacity of 55 billion cubic meters of gas running across the Baltic Sea from Russia to Germany. The pipeline is operated by the Nord Stream AG joint venture (Gazprom at 51 percent, Wintershall and E.ON at 15.5 percent each, and Gasunie and ENGIE at nine percent each). The first and the second strings of Nord Stream were brought into operation in November 2011 and October 2012, respectively.

Nord Stream 2 is a project for the construction of a gas pipeline with an annual capacity of 55 billion cubic meters stretching from Russia to Germany across the Baltic Sea.