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BASF’s head: Nord Stream 2 will succeed

Kurt Bock, the chief executive officer of BASF has no doubt that the Nord Stream 2 project will be realized successfully, the high-ranking manager said on March 22, 2017.

 

During an in-person meeting with Russia’s President Vladimir Putin, Mr. Brock said that BASF’s energy sector cooperation with Russia’s counterparts was proceeding along very well, particularly in the gas sector. “This is very important for the industry and of course here, in this area, the main project for us is Nord Stream 2,” he stated.

 

According to Mr. Brock, a high degree of coordination between BASF and Russia’s Gazprom made the first Nord Stream project into a rewarding venture for both entities. In Mr. Brock’s view, the companies are now poised to capitalize on the positive experience developed in the implementation of the Nord Stream 2 project.

 

Mr. Brock echoed President Putin’s earlier statements that the Nord Stream project’s goals are wholly economic in nature. The executive agreed with the Russian leader that the need to construct Nord Stream arose as a result of heightened gas demand on the European continent.

 

During the meeting with the Russian head of state, Mr. Brock addressed his company’s operations in the chemical field, promising President Putin to increase in-country production. According to the CEO, the previous couple of years were difficult for the sector, but positive dynamics emerged in the first months of 2017. Noting that the market situation is also more conducive to increasing chemical production, Mr. Brock assured the Russian leader that BASF plans taking advantage of the auspicious environment. Mr. Brock said that his company intends to raise the issue of its expansion in the chemical sector with Russia’s Industry and Trade Ministry.

 

Mario Mehren, the head of Wintershall, which is the oil and gas arm of BASF, said that the meeting with Vladimir Putin demonstrated the company’s serious commitment to the Russian market. 

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