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Anti-Russian sanctions

Gazprom’s partners ready to participate in Nord Stream-2 project despite sanctions

Austria’s OMV and Germany’s Wintershall will each get 10% of shares in the Nord Stream-2 project

© ТАSS/EPA/FILIP SINGER

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Nord Stream-2 strategically important for securing gas supply to Europe — Gazprom

VLADIVOSTOK, September 4. /TASS/. Austria’s OMV and Germany’s Wintershall are participating in the project of developing the Achimov deposits and will join the expansion of Nord Stream gas pipeline, according to the agreement signed between the companies at the Eastern Economic Forum (EEF) in Russia’s Far Eastern city of Vladivostok on Friday.

OMV and Wintershall will each get 10% of shares in the Nord Stream-2 project.

In the framework of the agreement on assets exchange, OMV will get 24.98% of shares in the project on developing IV and V units of the Achimov deposits at the Urengoy oil and gas condensate field.

Gazprom has not yet decided which assets will be exchanged. "We are still choosing," the Russian gas giant told TASS.

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In the framework of EEF, Gazprom announced renewing the exchange agreement with BASF from 2013. According to the deal, Gazprom will get up 100% of shares in joint companies on trading and storing gas in Europe WINGAS, WIEH and WIEE, and 50% of shares in WINZ, the company that explores and extracts hydrocarbons in the North Sea.

Wintershall and OMV will each get 25.01% in the Urengoy project. The deal is planned to be closed by the end of 2015 though the sides failed to do so last year because of sanctions.

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Sanctions vs. Russia Oil & Gas Gazprom

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