By OGJ editors
HOUSTON, April 12 -- Russia natural gas giant OAO Gazprom and Wintershall AG of Germany 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.
In 1990, Wintershall and Gazprom created a gas marketing joint venture, Wingas GMBH, which provides Gazprom direct access to the German gas market.
Now, Gazprom plans to increase its interest in Wingas to 50% minus one share from its previously held 35%. Wintershall is getting 50% minus one share in Severneftegazprom, a Gazprom subsidiary and Yuzkhno-Russkoye license holder.
Gazprom said it would join BASF, Witershall's parent, 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 Achimgaz, in Novy Urengoy in western Siberia to produce gas from the Achimov horizon of Urengoy field. Achimgaz is a 50-50 venture of Gazprom and Wintershall (OGJ Online, July 21, 2003).
