Gazprom agreed with BASF on joint development of the Urengoy natural gas fields in Siberia, with Gazprom giving BASF a 25% share in the asset, Ukraine Today reports.

In return Gazprom will obtain BASF subsidiary Wintershall's gas storage, among other preferences.

Meanwhile, Gazprom and a European consortium consisting of Royal Dutch Shell, BASF and OMV also announced plans recently to construct a second Nord Stream-2 pipeline under the Baltic Sea, thus enabling  Russia to send more of its gas directly to Germany in the future, bypassing Ukraine.

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