GAZPROM and BASF sign strategic cooperation agreement.
Published:
6 April 1999 y., Tuesday
Gazprom, the Russian state-run gas monopoly, and German concern BASF on Wednesday signed a strategic cooperation agreement in Ludwigshafen, Germany. Gazprom CEO Rem Vyakhirev and his BASF counterpart Jurgen Strube signed the agreement, a source in Gazprom told the Interfax Petroleum Information Agency. Under the agreement, BASF will participate in the prospecting for gas and development of gas fields in Russia through its Wintershall subsidiary, which it owns completely. "We will try to do something useful for our companies and our people. Both we and BASF need a partnership," Vyakhirev said at the signing ceremony. Under this historical document, for the first time a German company will be engaged in gas prospecting and production in Russia, Strube said.
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