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Gazprom to Buy Wintershall's Argentina Assets

Russian energy giant Gazprom is expected to cut a deal to buy an Argentinian gas asset from Germany's Wintershall, sources close to the talks told Vedomosti on Tuesday.

The agreement could be signed when President Vladimir Putin visits Argentina from July 12 to 13 to discuss energy projects, but so far the Kremlin has declined to comment.

The deal could form part of a 2012 asset exchange agreement between Gazprom and German concern BASF, which owns Wintershall. Under the agreement, Wintershall would get a 25 percent plus one share stake in developing the fourth and fifth blocks of the Urengoiskoye gas field, with an option to increase that share to 50 percent. For its part, Gazprom would received an increased share in joint trade, storage and production facilities in Europe.

See also:

Rosneft Ready to Take Gazprom to Court Over Pipeline Refusal

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