Gazprom, BASF to close asset swap in 2014

9/9/2013

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

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