Support The Moscow Times!

Gazprom Is Active In Germany, Japan

Gazprom and BASF's Wintershall unit agreed on the terms to swap assets in the North Sea and a western Siberian deposit.

Gazprom plans to get 50 percent of oil and gas fields in the southern part of the North Sea, the gas producer said Friday. Wintershall will get 25 percent plus one share in blocks 4 and 5 of the Achimov formation in the Urengoi field.

Wintershall has an option to raise its stake in the Achimov blocks to 50 percent, the German company said. The North Sea blocks are in Dutch and British waters.

In Russia, the companies produce gas at the Yuzhno-Russkoye gas field in Siberia and are developing area 1A of the Achimov layers of the Urengoi field.

Gazprom also held talks with Tokyo Electric Power Company and Japan's two largest trading houses on fuel supply and the Russian company's participation in Japanese power projects.

Gazprom deputy chief executive Alexander Medvedev met with officials of Tepco, as the utility is known, and of Mitsubishi and Mitsui in Tokyo, Gazprom said in a statement on its web site Thursday.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.