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Gazprom, BASF discussed joint projects of hydrocarbons tapping in Russia

The sides have also discussed matters related to implementation of the Nord Stream 2 project

MOSCOW, March 21. /TASS/. Joint projects of hydrocarbons production in Russia were discussed at a working meeting between Chief Executive Officer of Gazprom Alexei Miller and Chairman of BASF Board of Executive Directors Kurt Bock, the Russian gas holding said on Tuesday.

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Energy ministry claims Russia has hydrocarbon reserves for at least 40-50 years

"The parties discussed progress in joint development of hydrocarbon fields in Russia. It was noted that natural gas production on Yuzhno-Russkoe Field exceeded 215 bln cubic meters from field development start," Gazprom said.

Matters related to implementation of the Nord Stream 2 projects were also discussed, the Russian company said.

Wintershall, the subsidiary of BASF, is Gazprom’s partner in development of Yuzhno-Russkoe oil and gas condensate field, Achimov Blocks 1A, 4A and 5A of Urengoi oil and gas condensate field, and in the Nord Stream 2 project.

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FACTBOX: Collective Security Treaty Organization

The Collective Security Treaty came into force on April 20, 1994 to herald the emergence what would eventually become the Collective Security Treaty Organization. The six member-countries are Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan

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