Wintershall, the oil and gas subsidiary of German BASF, is discussing with Gazprom participation in construction of the South Stream gas pipeline across the Black Sea, several sources close to the project told Interfax.
Gazprom and Wintershall have not officially commented on the information.
Gazprom CEO Alexei Miller and Wintershall Holding AG CEO Rainer Seele held a meeting on September 7 that "addressed the prospects for a joint entry of Gazprom and Wintershall Holding into large investment projects of mutual interest," Gazprom said in a press release.
Wintershall is participating in the test development of a first section of the Achimov formations at the Urengoi gas and condensate field, launched in 2008, and has expressed interest in developing other sections. In return, Gazprom has been offered a stake in other Wintershall upstream projects and in natural gas storage projects in Europe: 25% in the Saltfleetby storage facility in the UK and 30% in the Jemgum facility in northwestern Germany, one of the sources said.
Gazprom and Italian Eni first announced the South Stream gas pipeline project in 2007.
This year discussion began on the entry of French EDF into the project. Consultations with German RWE have also been reported.
Wintershall is already participating in Nord Stream and, via the Wingas joint venture, in construction of gas pipelines linking Nord Stream with Germany’s existing gas pipeline system.
