Gazprom, BASF to close asset swap in 2014
BY JAMES MARSON
MOSCOW -- Russian state gas firm OAO Gazprom says it will close an asset-swap deal with BASF SE in 2014, a year later than planned.
Gazprom agreed in November last year to give BASF two stakes in a West Siberia gas field in return for 100% ownership of a gas trading and storage joint venture it operates with the German firm and a stake in a North Sea gas producer.
Gazprom said then it expected to close the deal by the end of 2013.
Gazprom said in a statement Wednesday that a final agreement on the sale will be signed in 2013, and the deal will be closed in 2014.
Dow Jones Newswires