By OGJ editors
HOUSTON, Apr. 15 -- Russian natural gas giant OAO Gazprom and Germany's BASF AG subsidiary Wintershall AG agreed to jointly develop Yuzhno-Russkoye gas field in western Siberia. They expect production to start in 2008.
Yuzhno-Russkoye, in the Yamal-Nenets autonomous area, has estimated reserves of 700 bcf.
From a Hanover, Germany, trade fair, BASF and Gazprom announced plans to accelerate their collaboration within the scope of an established partnership to provide gas from Siberia to Europe.
In 1990, Wintershall and Gazprom created a gas marketing JV, Wingas GMBH, which provides Gazprom with direct access to German natural gas market.
Now, Gazprom plans to increase its interest in Wingas to 50% minus one share from its previously held 35%, Gazprom Chief Executive Alexei Miller told reporters in Hanover. Wintershall is getting 50% minus one share in Severneftegazprom, a Gazprom subsidiary and Yuzkhno-Russkoye license holder.
Gazprom said it would join BASF in the North European Pipeline project to build a gas pipeline through the Baltic Sea to link Germany with Russia.
The joint development of Yuzhno-Russkoye field comes 2 years after the partners established a joint venture, named OOO Achimgaz, in Novy Urengoy in western Siberia, to produce gas from the Achimov horizon of Urengoy field. Achimgaz is a 50-50 split between Gazprom and Wintershall (OGJ Online, July 21, 2003).
